Techne Corporation (NASDAQ:TECH) reported financial results for Q3, or the quarter ended March 31, 2014, that topped analysts’ expectations, and declared a quarterly dividend.
The developer and manufacturer of biotechnology products and hematology calibrators and controls reported Q1 $31.6 million or $0.85 per diluted share, compared with $33.12 million or $0.90 per share in the prior-year period. Adjusted earnings for the quarter were $34.7 million or $0.94 per diluted share, compared with $32.46 million or $0.88 per share in the same period the prior year. The Capital IQ analyst estimate is for $0.89 EPS.
Revenue was $95.55 million, up 18% from $80.99 million in the same quarter last year. Analysts were expecting revenue of $92.50 million.
TECH said its board of directors declared a dividend of $0.31 per share for the quarter ended March 31, 2014, payable May 23, 2014 to all common shareholders of record on May 9, 2014. Shares closed at $83.88 with a 52-week range of $62.55 – $96.96.
Analysts have a consensus price target of $87 on Techne Corporation (NASDAQ:TECH) which indicates a 4.3% upside. The consensus rating of the stock is a Buy with a score of 2.75. There are currently 1 Hold rating and 3 Buy ratings on the stock.
A recent analyst action consisted of William Blair upgrading the stock from Market Perform to Outperform.
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