Intrinsic value of Bio-Techne - TECH

Previous Close

$198.98

  Intrinsic Value

$85.44

stock screener

  Rating & Target

str. sell

-57%

Previous close

$198.98

 
Intrinsic value

$85.44

 
Up/down potential

-57%

 
Rating

str. sell

We calculate the intrinsic value of TECH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 7.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.80
  12.92
  12.13
  11.42
  10.77
  10.20
  9.68
  9.21
  8.79
  8.41
  8.07
  7.76
  7.49
  7.24
  7.01
  6.81
  6.63
  6.47
  6.32
  6.19
  6.07
  5.96
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
Revenue, $m
  641
  723
  811
  904
  1,001
  1,103
  1,210
  1,321
  1,438
  1,558
  1,684
  1,815
  1,951
  2,092
  2,239
  2,391
  2,550
  2,715
  2,886
  3,065
  3,251
  3,445
  3,647
  3,858
  4,078
  4,307
  4,547
  4,798
  5,060
  5,334
Variable operating expenses, $m
  433
  476
  521
  568
  619
  671
  726
  783
  843
  906
  867
  934
  1,004
  1,077
  1,153
  1,231
  1,313
  1,398
  1,486
  1,578
  1,674
  1,774
  1,878
  1,986
  2,099
  2,218
  2,341
  2,470
  2,605
  2,746
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  433
  476
  521
  568
  619
  671
  726
  783
  843
  906
  867
  934
  1,004
  1,077
  1,153
  1,231
  1,313
  1,398
  1,486
  1,578
  1,674
  1,774
  1,878
  1,986
  2,099
  2,218
  2,341
  2,470
  2,605
  2,746
Operating income, $m
  208
  248
  290
  335
  383
  432
  484
  538
  594
  653
  817
  881
  946
  1,015
  1,086
  1,160
  1,237
  1,317
  1,400
  1,487
  1,577
  1,671
  1,769
  1,871
  1,978
  2,090
  2,206
  2,328
  2,455
  2,588
EBITDA, $m
  349
  395
  442
  493
  546
  602
  660
  721
  784
  850
  919
  990
  1,064
  1,141
  1,221
  1,304
  1,391
  1,481
  1,574
  1,672
  1,773
  1,879
  1,989
  2,104
  2,224
  2,349
  2,480
  2,617
  2,760
  2,909
Interest expense (income), $m
  7
  19
  23
  28
  33
  38
  44
  50
  56
  63
  69
  77
  84
  91
  99
  108
  116
  125
  134
  144
  154
  164
  175
  186
  198
  210
  223
  237
  251
  265
  281
Earnings before tax, $m
  189
  225
  263
  302
  344
  388
  434
  482
  532
  584
  741
  797
  855
  916
  978
  1,044
  1,112
  1,183
  1,256
  1,333
  1,413
  1,496
  1,583
  1,673
  1,768
  1,866
  1,969
  2,077
  2,189
  2,307
Tax expense, $m
  51
  61
  71
  82
  93
  105
  117
  130
  144
  158
  200
  215
  231
  247
  264
  282
  300
  319
  339
  360
  381
  404
  427
  452
  477
  504
  532
  561
  591
  623
Net income, $m
  138
  164
  192
  221
  251
  283
  317
  352
  388
  426
  541
  582
  624
  668
  714
  762
  812
  863
  917
  973
  1,031
  1,092
  1,155
  1,222
  1,290
  1,362
  1,438
  1,516
  1,598
  1,684

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,746
  1,971
  2,210
  2,463
  2,728
  3,006
  3,297
  3,601
  3,917
  4,247
  4,589
  4,945
  5,316
  5,700
  6,100
  6,516
  6,948
  7,397
  7,864
  8,351
  8,858
  9,386
  9,937
  10,511
  11,111
  11,736
  12,390
  13,073
  13,787
  14,533
Adjusted assets (=assets-cash), $m
  1,746
  1,971
  2,210
  2,463
  2,728
  3,006
  3,297
  3,601
  3,917
  4,247
  4,589
  4,945
  5,316
  5,700
  6,100
  6,516
  6,948
  7,397
  7,864
  8,351
  8,858
  9,386
  9,937
  10,511
  11,111
  11,736
  12,390
  13,073
  13,787
  14,533
Revenue / Adjusted assets
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
  0.367
Average production assets, $m
  657
  742
  831
  926
  1,026
  1,131
  1,240
  1,355
  1,474
  1,597
  1,726
  1,860
  2,000
  2,144
  2,295
  2,451
  2,614
  2,783
  2,958
  3,142
  3,332
  3,531
  3,738
  3,954
  4,180
  4,415
  4,661
  4,918
  5,186
  5,467
Working capital, $m
  62
  70
  79
  88
  97
  107
  117
  128
  139
  151
  163
  176
  189
  203
  217
  232
  247
  263
  280
  297
  315
  334
  354
  374
  396
  418
  441
  465
  491
  517
Total debt, $m
  427
  516
  610
  710
  815
  926
  1,041
  1,161
  1,286
  1,417
  1,553
  1,694
  1,840
  1,992
  2,151
  2,315
  2,486
  2,664
  2,850
  3,042
  3,243
  3,452
  3,670
  3,898
  4,135
  4,383
  4,642
  4,912
  5,195
  5,490
Total liabilities, $m
  691
  781
  875
  975
  1,080
  1,190
  1,306
  1,426
  1,551
  1,682
  1,817
  1,958
  2,105
  2,257
  2,416
  2,580
  2,751
  2,929
  3,114
  3,307
  3,508
  3,717
  3,935
  4,162
  4,400
  4,648
  4,906
  5,177
  5,460
  5,755
Total equity, $m
  1,054
  1,191
  1,335
  1,487
  1,648
  1,816
  1,991
  2,175
  2,366
  2,565
  2,772
  2,987
  3,211
  3,443
  3,684
  3,935
  4,196
  4,468
  4,750
  5,044
  5,350
  5,669
  6,002
  6,349
  6,711
  7,089
  7,484
  7,896
  8,327
  8,778
Total liabilities and equity, $m
  1,745
  1,972
  2,210
  2,462
  2,728
  3,006
  3,297
  3,601
  3,917
  4,247
  4,589
  4,945
  5,316
  5,700
  6,100
  6,515
  6,947
  7,397
  7,864
  8,351
  8,858
  9,386
  9,937
  10,511
  11,111
  11,737
  12,390
  13,073
  13,787
  14,533
Debt-to-equity ratio
  0.400
  0.430
  0.460
  0.480
  0.490
  0.510
  0.520
  0.530
  0.540
  0.550
  0.560
  0.570
  0.570
  0.580
  0.580
  0.590
  0.590
  0.600
  0.600
  0.600
  0.610
  0.610
  0.610
  0.610
  0.620
  0.620
  0.620
  0.620
  0.620
  0.630
Adjusted equity ratio
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604
  0.604

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  138
  164
  192
  221
  251
  283
  317
  352
  388
  426
  541
  582
  624
  668
  714
  762
  812
  863
  917
  973
  1,031
  1,092
  1,155
  1,222
  1,290
  1,362
  1,438
  1,516
  1,598
  1,684
Depreciation, amort., depletion, $m
  142
  147
  152
  158
  163
  170
  176
  183
  190
  197
  102
  109
  118
  126
  135
  144
  154
  164
  174
  185
  196
  208
  220
  233
  246
  260
  274
  289
  305
  322
Funds from operations, $m
  280
  311
  344
  378
  415
  453
  493
  534
  578
  623
  642
  691
  742
  794
  849
  906
  965
  1,027
  1,091
  1,158
  1,227
  1,300
  1,375
  1,454
  1,536
  1,622
  1,712
  1,805
  1,903
  2,006
Change in working capital, $m
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  14
  15
  15
  16
  17
  17
  18
  19
  20
  20
  21
  22
  23
  24
  25
  27
Cash from operations, $m
  272
  303
  335
  369
  405
  443
  482
  524
  567
  611
  630
  678
  729
  781
  835
  891
  950
  1,011
  1,075
  1,141
  1,209
  1,281
  1,356
  1,434
  1,515
  1,600
  1,688
  1,781
  1,878
  1,979
Maintenance CAPEX, $m
  -34
  -39
  -44
  -49
  -54
  -60
  -67
  -73
  -80
  -87
  -94
  -102
  -109
  -118
  -126
  -135
  -144
  -154
  -164
  -174
  -185
  -196
  -208
  -220
  -233
  -246
  -260
  -274
  -289
  -305
New CAPEX, $m
  -80
  -85
  -90
  -95
  -100
  -105
  -109
  -114
  -119
  -124
  -129
  -134
  -139
  -145
  -150
  -156
  -163
  -169
  -176
  -183
  -191
  -199
  -207
  -216
  -225
  -235
  -246
  -257
  -269
  -281
Cash from investing activities, $m
  -114
  -124
  -134
  -144
  -154
  -165
  -176
  -187
  -199
  -211
  -223
  -236
  -248
  -263
  -276
  -291
  -307
  -323
  -340
  -357
  -376
  -395
  -415
  -436
  -458
  -481
  -506
  -531
  -558
  -586
Free cash flow, $m
  158
  179
  202
  226
  251
  278
  307
  337
  368
  401
  407
  443
  480
  518
  559
  600
  643
  688
  735
  783
  834
  886
  941
  998
  1,057
  1,119
  1,183
  1,250
  1,320
  1,393
Issuance/(repayment) of debt, $m
  83
  89
  95
  100
  105
  110
  115
  120
  125
  130
  136
  141
  147
  152
  158
  165
  171
  178
  185
  193
  201
  209
  218
  227
  237
  248
  259
  270
  283
  296
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  83
  89
  95
  100
  105
  110
  115
  120
  125
  130
  136
  141
  147
  152
  158
  165
  171
  178
  185
  193
  201
  209
  218
  227
  237
  248
  259
  270
  283
  296
Total cash flow (excl. dividends), $m
  241
  269
  296
  325
  356
  388
  422
  457
  493
  531
  543
  584
  626
  671
  717
  765
  814
  866
  920
  976
  1,035
  1,095
  1,159
  1,225
  1,294
  1,366
  1,442
  1,520
  1,603
  1,689
Retained Cash Flow (-), $m
  -127
  -136
  -144
  -152
  -160
  -168
  -176
  -183
  -191
  -199
  -207
  -215
  -224
  -232
  -241
  -251
  -261
  -271
  -282
  -294
  -306
  -319
  -333
  -347
  -362
  -378
  -395
  -412
  -431
  -451
Prev. year cash balance distribution, $m
  22
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  136
  132
  152
  173
  196
  220
  246
  273
  302
  332
  336
  369
  403
  438
  475
  514
  554
  595
  638
  682
  728
  776
  826
  878
  932
  988
  1,047
  1,108
  1,172
  1,238
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  131
  121
  132
  142
  152
  160
  166
  171
  174
  174
  159
  157
  153
  147
  140
  131
  120
  110
  98
  87
  75
  64
  54
  45
  36
  29
  22
  17
  13
  9
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world. The Clinical Controls segment develops and manufactures controls, calibrators, immunoassays and other reagents for the global clinical market. The Protein Platforms segment develops and commercializes systems and consumables for protein analysis. It markets immunoassays on different testing platforms, including microtiter-plate based kits sold under the trade name Quantikine, and immunoassays based on planar spotted surfaces and microfluidic-based multiplex immunoassays on automated testing platform.

FINANCIAL RATIOS  of  Bio-Techne (TECH)

Valuation Ratios
P/E Ratio 97.8
Price to Sales 13.2
Price to Book 7.8
Price to Tangible Book
Price to Cash Flow 52
Price to Free Cash Flow 58.1
Growth Rates
Sales Growth Rate 12.8%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -11.8%
Cap. Spend. - 3 Yr. Gr. Rate 1.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 36.2%
Total Debt to Equity 36.2%
Interest Coverage 17
Management Effectiveness
Return On Assets 6%
Ret/ On Assets - 3 Yr. Avg. 9%
Return On Total Capital 6.7%
Ret/ On T. Cap. - 3 Yr. Avg. 10%
Return On Equity 8.3%
Return On Equity - 3 Yr. Avg. 11.2%
Asset Turnover 0.4
Profitability Ratios
Gross Margin 66.6%
Gross Margin - 3 Yr. Avg. 67.4%
EBITDA Margin 31.8%
EBITDA Margin - 3 Yr. Avg. 37.7%
Operating Margin 21.5%
Oper. Margin - 3 Yr. Avg. 28.1%
Pre-Tax Margin 19.9%
Pre-Tax Margin - 3 Yr. Avg. 27.8%
Net Profit Margin 13.5%
Net Profit Margin - 3 Yr. Avg. 19.4%
Effective Tax Rate 32.1%
Eff/ Tax Rate - 3 Yr. Avg. 30.4%
Payout Ratio 61.8%

TECH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the TECH stock intrinsic value calculation we used $563.003 million for the last fiscal year's total revenue generated by Bio-Techne. The default revenue input number comes from 0001 income statement of Bio-Techne. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our TECH stock valuation model: a) initial revenue growth rate of 13.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for TECH is calculated based on our internal credit rating of Bio-Techne, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Bio-Techne.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of TECH stock the variable cost ratio is equal to 69.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for TECH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Bio-Techne.

Corporate tax rate of 27% is the nominal tax rate for Bio-Techne. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the TECH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for TECH are equal to 102.5%.

Life of production assets of 17 years is the average useful life of capital assets used in Bio-Techne operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for TECH is equal to 9.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $949.627 million for Bio-Techne - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 37.574 million for Bio-Techne is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Bio-Techne at the current share price and the inputted number of shares is $7.5 billion.

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COMPANY NEWS

▶ Bio-Techne Releases Fourth Quarter Fiscal 2018 Results   [Aug-07-18 07:00AM  PR Newswire]
▶ Bio-Techne Declares Dividend   [07:00AM  PR Newswire]
▶ Bio-Techne Announces 2018 Investor Day And Webcast   [Aug-02-18 09:00AM  PR Newswire]
▶ 5 Tips for Making Money in Penny Stocks   [Jul-12-18 05:52PM  InvestorPlace]
▶ Bio-Techne To Acquire Exosome Diagnostics, Inc.   [Jun-25-18 04:09PM  PR Newswire]
▶ Bio-Techne To Acquire Quad Technologies   [Jun-07-18 08:00AM  PR Newswire]
▶ Better Know Biotech: 2 Stocks You Ought to Know About   [May-16-18 08:00AM  Motley Fool]
▶ When Should You Buy Bio-Techne Corporation (NASDAQ:TECH)?   [May-07-18 02:19PM  Simply Wall St.]
▶ Bio-Techne Declares Dividend   [07:00AM  PR Newswire]
▶ Bio-Techne Announces New Leadership Appointment   [Apr-24-18 04:15PM  PR Newswire]
▶ 10 Growth Stocks for Long-Term Investors   [Mar-15-18 08:00AM  Investopedia]
▶ Bio-Techne Named "Researchers' Choice" by CiteAb   [Feb-07-18 09:00AM  PR Newswire]
▶ Bio-Techne Declares Dividend   [09:25AM  PR Newswire]
▶ Bio-Techne Acquires Atlanta Biologicals Inc.   [Jan-02-18 05:01PM  PR Newswire]
▶ Bio-Techne Shows Market Leadership With Jump To 81 RS Rating   [Nov-01-17 03:00AM  Investor's Business Daily]
▶ Bio-Techne Releases First Quarter Fiscal 2018 Results   [Oct-31-17 07:35AM  PR Newswire]
▶ Bio-Techne Declares Dividend   [07:35AM  PR Newswire]
▶ Bio-Techne to Host Earnings Call   [07:30AM  ACCESSWIRE]
▶ ETFs with exposure to Bio-Techne Corp. : October 30, 2017   [Oct-30-17 12:18PM  Capital Cube]
▶ Bio-Techne Adds Two New Directors to Its Board   [Oct-26-17 05:00PM  PR Newswire]
▶ ETFs with exposure to Bio-Techne Corp. : October 10, 2017   [Oct-10-17 11:50AM  Capital Cube]
▶ Bio-Techne Shows Rising Relative Strength; Still Shy Of Key Benchmark   [Oct-03-17 03:00AM  Investor's Business Daily]
▶ Bio-Techne Acquires Trevigen Inc.   [Sep-05-17 06:06PM  PR Newswire]

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