Bio-Techne Q2 revenue, adjusted EPS beat estimates on China/APAC growth

Overview

• Life sciences firm's Q2 revenue was flat yr/yr but beat analyst expectations

• Adjusted EPS for Q2 beat analyst expectations

• Company noted strong growth in China/APAC region

Result Drivers

• CHINA/APAC GROWTH - Strong commercial execution and improving end-markets drove growth in the China/APAC region for the third consecutive quarter

• PRODUCTIVITY INITIATIVES - Ongoing productivity and cost containment initiatives led to a 31.1% adjusted operating margin, an increase of 100 basis points compared to the prior year period

• LARGE PHARMA GROWTH - For the fourth consecutive quarter, the company delivered double-digit growth in its largest end market, large pharma

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Bio-Techne Corp is $70.00, about 8.3% above its February 3 closing price of $64.63

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 30 three months ago

Press Release: ID:nPn4r2F7Pa

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