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1. Company Snapshot

1.a. Company Description

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide.The company operates through two segments, Protein Sciences, and Diagnostics and Genomics.The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.


This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids.The Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications; and sells products for genetic carrier screening, oncology diagnostics, molecular controls, and research, as well as instruments and process control products for hematology, blood chemistry and gases, and coagulation controls and reagents used in various diagnostic applications.It offers its products under R&D Systems, Tocris Biosciences, Novus Biologicals, ProteinSimple, Advanced Cell Diagnostics, Exosome Diagnostics, and Asuragen brands.


The company was formerly known as Techne Corporation and changed its name to Bio-Techne Corporation in November 2014.Bio-Techne Corporation was founded in 1976 and is headquartered in Minneapolis, Minnesota.

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1.b. Last Insights on TECH

Bio-Techne Corporation's recent performance was driven by strong Q2 earnings, with adjusted EPS of $0.46, up 10% year-over-year, and revenue of $295.9 million. The company's strategic growth and margin expansion efforts contributed to the positive results. Analysts have a "Moderate Buy" consensus rating on the stock, with 9 buy ratings and 4 hold ratings. Additionally, institutional investors have recently modified their holdings, with Inscription Capital LLC and Cerity Partners LLC increasing their stakes. The company's operating margin also jumped 244 bps.

1.c. Company Highlights

2. Bio-Techne's Q2 Earnings: A Beat on EPS and Revenue Stability

Bio-Techne reported Q2 revenue of $295.9 million, flat year-over-year on both an organic and reported basis. Adjusted EPS for the quarter was $0.46, up 10% year-over-year and beating analyst estimates of $0.43. Adjusted operating margin reached 31.1%, up 100 basis points year-over-year, driven by the Exosome Diagnostics divestiture and productivity gains. The company's revenue stability was largely driven by modest growth in core reagents and assays, proteomic analysis instruments, and diagnostic kits.

Publication Date: Feb -08

📋 Highlights
  • Flat Revenue with EPS Growth:: Total Q2 revenue was $295.9M (flat YoY), but adjusted EPS rose 10% to $0.46, driven by FX benefits and margin improvements.
  • Protein Sciences Segment Resilience:: Despite a 1% organic decline, GMP reagents grew 30% excluding top cell therapy customers, highlighting demand in cell therapy markets.
  • Diag & Spatial Biology Momentum:: 3% organic growth, with Comet instrument bookings surging 40%, underscoring product innovation success.
  • APAC Growth Acceleration:: APAC revenue grew ~20% (broad-based), while China achieved mid-single-digit growth for the third consecutive quarter.
  • Future Growth Outlook:: Excluding cell therapy headwinds, underlying growth is projected at mid-single digits in H2 2026, with GMP reagents expected to normalize at 30% growth in 2027.

Segment Performance

The Protein Sciences segment declined 1% organically, primarily due to the impact of FDA Fast Track designations for the company's largest cell therapy customers. However, excluding these customers, GMP reagents grew nearly 30%, underscoring the strength of the company's offering and improving end market demand. The Diagnostics and Spatial Biology segment delivered 3% organic growth, driven by low single-digit growth in RNAscope and nearly 40% growth in bookings for the Comet instrument.

Geographic Performance

Geographically, the Americas declined high single digits, but adjusted for cell therapy order timing headwinds, revenue in the region grew low single digits. EMEA was flat against a strong double-digit comparison from the prior year, while China grew mid-single digits, marking its third consecutive quarter of growth. APAC saw strong, broad-based performance with growth approaching 20%.

Outlook and Valuation

Bio-Techne expects underlying growth for the remainder of its business to be mid-single digits, tracking with the stabilization of its end markets and improving customer sentiment. Analysts estimate next year's revenue growth at 6.5%. With a P/E Ratio of 128.16 and an EV/EBITDA of 61.32, the market appears to be pricing in significant growth expectations. The company's ROE (%) of 4.09 and ROIC (%) of 3.58 indicate a relatively stable return profile.

Management Insights

According to Kim Kelderman, "we remain confident in the durable moats surrounding our core portfolio and our competitive positions across our fast-growing verticals of cell therapy, proteomic analysis, spatial biology, and molecular diagnostics." The company is actively seeking opportunities to deploy capital, with a 20% stake in Wilson Wolf, which they plan to acquire by the end of 2027.

3. NewsRoom

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Bio-Techne Corp $TECH Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

Feb -21

Source: defenseworld.net

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KMDA or TECH: Which Is the Better Value Stock Right Now?

Feb -17

Source: zacks.com

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Bio-Techne's Ella Platform Achieves CE-IVD Marking Expanding Access to Rapid, Cartridge‑Based Immunoassays for European Clinical Laboratories

Feb -16

Source: prnewswire.com

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Caprock Group LLC Takes $1.71 Million Position in Bio-Techne Corp $TECH

Feb -14

Source: defenseworld.net

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CMB.TECH ANNOUNCES Q4 2025 RESULTS ON 26/02/2026

Feb -12

Source: globenewswire.com

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Bio-Techne Announces Changes to its Leadership Team

Feb -11

Source: prnewswire.com

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Baader Bank Aktiengesellschaft Buys 38,082 Shares of Bio-Techne Corp $TECH

Feb -11

Source: defenseworld.net

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CMB.TECH FLEET UPDATE

Feb -09

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (6.58%)

6. Segments

Protein Sciences

Expected Growth: 6.5%

Protein Sciences' 6.5% growth is driven by increasing demand for biologics, rising adoption of single-use technologies, and growing investments in cell and gene therapy research. Additionally, Bio-Techne's strategic acquisitions and expansion into emerging markets have contributed to the segment's growth.

Diagnostics and Genomics

Expected Growth: 6.8%

Bio-Techne's Diagnostics and Genomics segment growth of 6.8% is driven by increasing demand for genetic testing, advancements in precision medicine, and growing adoption of molecular diagnostics in clinical settings. Additionally, the company's strategic acquisitions and investments in emerging technologies, such as next-generation sequencing, have expanded its product offerings and enhanced its market position.

Intersegment

Expected Growth: 5.5%

Bio-Techne Corporation's 5.5% intersegment growth is driven by increasing demand for its life science and diagnostic products, particularly in the protein sciences and diagnostics segments. Strong sales of its ExoDx Prostate IntelliScore (EPI) test and growing adoption of its NanoString GeoMx Digital Spatial Profiler also contribute to this growth.

7. Detailed Products

ProteinSimple

ProteinSimple is a line of protein analysis instruments and consumables that provide researchers with a comprehensive understanding of protein function and activity.

R&D Systems

R&D Systems is a leading provider of antibodies, assays, and reagents for life science research, offering a wide range of products for cell biology, immunology, and molecular biology applications.

Novus Biologicals

Novus Biologicals offers a comprehensive portfolio of antibodies, proteins, and other reagents for life science research, with a focus on emerging areas such as stem cell biology and gene editing.

Tocris Bioscience

Tocris Bioscience is a leading provider of small molecules and biochemicals for life science research, offering a wide range of products for pharmacology, neuroscience, and cancer research applications.

Advanced Cell Diagnostics (ACD)

ACD is a pioneer in the field of RNA in situ hybridization, offering a range of products and services for the detection and analysis of RNA biomarkers in tissue samples.

Exosome Diagnostics

Exosome Diagnostics is a leading provider of exosome-based diagnostics and research tools, enabling the detection and analysis of exosomal RNA and protein biomarkers in biofluids.

8. Bio-Techne Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bio-Techne Corporation operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the ongoing research and development in the biotechnology industry.

Bargaining Power Of Customers

Bio-Techne Corporation's customers are primarily researchers and scientists who rely on the company's products for their research and development. The bargaining power of customers is low due to the specialized nature of the products.

Bargaining Power Of Suppliers

Bio-Techne Corporation relies on a few key suppliers for raw materials and equipment. The bargaining power of suppliers is medium due to the availability of alternative suppliers in the market.

Threat Of New Entrants

The biotechnology industry has high barriers to entry, including significant research and development costs, regulatory hurdles, and the need for specialized expertise. The threat of new entrants is low due to these barriers.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share. The intensity of rivalry is high due to the competitive nature of the industry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 18.79%
Debt Cost 3.95%
Equity Weight 81.21%
Equity Cost 10.06%
WACC 8.92%
Leverage 23.14%

11. Quality Control: Bio-Techne Corporation passed 6 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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BridgeBio Pharma

A-Score: 5.3/10

Value: 8.0

Growth: 5.1

Quality: 5.9

Yield: 0.0

Momentum: 10.0

Volatility: 3.0

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IDEAYA Biosciences

A-Score: 4.6/10

Value: 6.7

Growth: 2.9

Quality: 5.1

Yield: 0.0

Momentum: 9.0

Volatility: 3.7

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Alnylam Pharmaceuticals

A-Score: 4.5/10

Value: 0.0

Growth: 7.8

Quality: 4.7

Yield: 0.0

Momentum: 10.0

Volatility: 4.7

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Insmed

A-Score: 4.4/10

Value: 6.0

Growth: 3.3

Quality: 4.0

Yield: 0.0

Momentum: 10.0

Volatility: 3.0

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ADMA Biologics

A-Score: 4.0/10

Value: 1.3

Growth: 8.4

Quality: 8.5

Yield: 0.0

Momentum: 2.0

Volatility: 3.7

1-Year Total Return ->

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Stock-Card
Bio-Techne

A-Score: 3.5/10

Value: 0.9

Growth: 4.2

Quality: 6.3

Yield: 1.0

Momentum: 3.5

Volatility: 5.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

55.21$

Current Price

55.21$

Potential

-0.00%

Expected Cash-Flows