BIO-TECHNE CORPORATION Reports Strong Fourth Quarter Financial Results for FY2023
August 13, 2023
☀️Earnings Overview
BIO-TECHNE ($NASDAQ:TECH): Bio-Techne Corporation reported their financial results for the fourth quarter of the fiscal year 2023, ending on June 30, 2023, on August 8 2023. Total revenue for the quarter was USD 301.3 million, representing an increase of 4.5% from the same period in the previous year. Net income reported in the quarter was USD 75.5 million, a 22.7% increase compared to the year prior.
Market Price
The company’s stock opened at $83.4 and closed at $84.3, representing a 3.7% increase from its last closing price of 81.3. The company attributed these positive results to its continued efforts to develop and market innovative biotechnology products and services. Despite the economic challenges experienced during the pandemic, BIO-TECHNE CORPORATION was able to maintain and even expand its market presence in the face of these obstacles.
The company’s strong fourth quarter results illustrate that its products and services remain in high demand and can continue to generate strong financial returns for the company’s investors. With its continued focus on innovation and product development, BIO-TECHNE CORPORATION is well-positioned to maintain its market share and generate strong financial returns in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bio-techne Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 1.14k | 285.26 | 25.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bio-techne Corporation. More…
| Operations | Investing | Financing |
| 254.39 | -265.65 | 22.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bio-techne Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.64k | 672.18 | 12 |
Key Ratios Snapshot
Some of the financial key ratios for Bio-techne Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.5% | 26.2% | 26.3% |
| FCF Margin | ROE | ROA |
| 19.0% | 9.9% | 7.1% |
Analysis
At GoodWhale, we recently conducted a risk analysis of BIO-TECHNE CORPORATION. Our findings indicate that BIO-TECHNE CORPORATION is a high risk investment in terms of financial and business aspects. We identified three key risk warnings in the income sheet, balance sheet, and non-financial categories. These warnings point to potential problems such as insufficient liquidity, an overall weak financial position, and operational risk. We invite our registered users to further explore our risk rating of BIO-TECHNE CORPORATION. We believe that our findings can be used to help potential investors make more informed decisions. We are committed to providing our users with the most accurate and up-to-date information to help them make the best investment decisions. More…
Peers
In the realm of biotechnology, there is fierce competition between companies to provide the best products and services. Among these companies is Bio-Techne Corp, which competes against Proteomics International Laboratories Ltd, AEterna Zentaris Inc, AXIM Biotechnologies Inc, and others. While each company has its own strengths and weaknesses, Bio-Techne Corp has been able to distinguish itself through its innovative products and cutting-edge technology. As the biotechnology landscape continues to evolve, it will be interesting to see how these companies adapt and change in order to stay ahead of the competition.
– Proteomics International Laboratories Ltd ($ASX:PIQ)
Proteomics International Laboratories Ltd is a company that specializes in providing proteomics services. Its market cap as of 2022 was 110.87M, and its ROE was -75.41%. The company’s main services include proteomics research, biomarker discovery, and protein quantification. Proteomics International Laboratories Ltd has a strong focus on quality and customer service, and has a team of experienced scientists that are dedicated to helping their clients achieve success.
– AEterna Zentaris Inc ($TSX:AEZS)
Aeterna Zentaris is a Canadian biopharmaceutical company engaged in the discovery, development, and commercialization of therapeutic drugs for the treatment of cancer and endocrine disorders. As of 2022, the company had a market capitalization of $25.01 million and a return on equity of -14.54%. The company’s products include the cancer drug Macrilen, which is approved for the treatment of acromegaly, and the endocrine disorder drug Zoptarelin Doxorubicin, which is in clinical development for the treatment of breast cancer.
– AXIM Biotechnologies Inc ($OTCPK:AXIM)
AXIM Biotechnologies Inc is a clinical stage pharmaceutical company focused on the development of cannabinoid-based therapeutics. The company’s products are based on proprietary technology platforms that utilize purified cannabinoids to address specific disease conditions.
The company’s market cap is 10.55M as of 2022. The company’s ROE is 223.83%.
The company’s products are based on proprietary technology platforms that utilize purified cannabinoids to address specific disease conditions. The company is focused on the development of cannabinoid-based therapeutics to treat pain, inflammation, anxiety, and other conditions.
Summary
BIO-TECHNE CORPORATION reported strong financial results for the fourth quarter of FY2023, with total revenue of USD 301.3 million and a year-over-year net income increase of 22.7%. This marks a strong quarter for the company and investors responded positively, driving the stock price up. Investors looking to invest in BIO-TECHNE CORPORATION should take note of the company’s impressive revenue growth, in addition to its ability to generate profit. With no signs of slowing down, BIO-TECHNE CORPORATION is a promising opportunity for investors looking to diversify their portfolios.
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