Bio-Techne
TECH on Nasdaq. Bio-Techne sells life science reagents, instruments, and services to researchers, diagnostic labs, bioprocessing firms. Market value $11.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Health care stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $2.31 of spare cash in the past 12 months. A savings account pays about $4.
You pay 44.9 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 10 cents a year. Above 10 is good.
Quality score: 92 of 100. Price score: 21 of 100. Our list needs 70 on quality and 60 on price.
$72.58 a share, 68% above its 1-year low
Over the past year the price has ranged from $43.20 to $72.69.
Dividend: 0.4% a year
Paid every year for at least 5 years
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $1.1bn | $1.1bn | $1.2bn | $1.2bn | $1.2bn |
| Operating margin | |||||
| Operating margin | 26.8% | 26.3% | 17.8% | 8.4% | 20.7% |
| Debt to equity | |||||
| Debt to equity | 0.15 | 0.18 | 0.15 | 0.18 | 0.09 |
| Shares outstanding | |||||
| Shares outstanding | 0.16bn | 0.16bn | 0.16bn | 0.16bn | 0.16bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt0.09× equity
- Revenue growth, five yearsSlow, 5.5% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $321 million last quarter, up 1% on a year ago.
- Profit: $55 million, after a loss of $18 million a year ago.
- It keeps 21 cents of each $1 of sales as operating profit, up from 8 cents a year earlier.
- Spare cash over the past 12 months: $263 million, up from $257 million.
- It has $65 million more cash than debt. A year ago debt was $184 million more than cash.
- Sales grew on a year ago in 1 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $289m |
| December 2024 | $297m |
| March 2025 | $316m |
| June 2025 | $317m |
| September 2025 | $287m |
| December 2025 | $296m |
| March 2026 | $311m |
| June 2026 | $321m |
| Quarter to | Amount |
|---|---|
| September 2024 | $34m |
| December 2024 | $35m |
| March 2025 | $23m |
| June 2025 | -$18m |
| September 2025 | $38m |
| December 2025 | $38m |
| March 2026 | $51m |
| June 2026 | $55m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 9 November 2026
- Last annual report (10-K)
- 24 August 2026
- Next quarterly (estimated, 10-Q)
- 5 August 2026
Who owns it
8 long-term investors we follow own it, up from 7 last quarter. 596 funds in all.
- Ruane Cunniff & Goldfarb (Sequoia Fund)John Harris
- Value
- $237m
- Share of fund
- 3.7%
- Mairs & PowerAndy Adams
- Value
- $191m
- Share of fund
- 1.8%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Ruane Cunniff & Goldfarb (Sequoia Fund)John Harris | $237m | 3.7% | |
| Mairs & PowerAndy Adams | $191m | 1.8% | |
| Royce & AssociatesChuck Royce | $56m | 0.4% | Added |
| Weitz Investment ManagementWally Weitz | $38m | 2.7% | Cut |
| Nuance InvestmentsScott Moore | $7m | 1.3% | New |
| Gotham Asset ManagementJoel Greenblatt | $5m | <0.1% | Added |
| Glenview Capital ManagementLarry Robbins | $4m | <0.1% | Cut |
| GAMCO InvestorsMario Gabelli | $441,563 | <0.1% | New |
Sold out this quarter
Largest holders overall
- BlackRock$991mAdded
- FMR$904mAdded
- Vanguard Capital Management$722m
- Goldman Sachs Group$519mAdded
- HBK Investments L P$482mNew
- Vanguard Portfolio Management$460m
- Morgan Stanley$450mCut
- State Street$423m
- Geode Capital Management$378mAdded
- Invesco$352mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- FMR LLCPassive investorat least 8.1%+3.1 pts(filed with 1 related holder)Since 30 June 2026
- Vanguard Capital ManagementPassive investor7.4%Since 31 March 2026
- BlackRock, Inc.Passive investor7.0%Since 30 June 2025
- T. Rowe Price Associates, Inc.Passive investorSold down below 5%Since 30 September 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 8.1%+3.1 pts (filed with 1 related holder) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 7.4% | 31 March 2026 | |
BlackRock, Inc. Passive investor | 7.0% | 30 June 2025 | |
T. Rowe Price Associates, Inc. Passive investor | Sold down below 5% | 30 September 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $437,187.
- Herr Amy E.DirectorSold
- Date
- 8 May 2026
- Shares
- 6,636
- Price
- $48.28
- Value
- $320,386
- Herr Amy E.DirectorSold
- Date
- 17 February 2026
- Shares
- 1,976
- Price
- $59.11
- Value
- $116,801
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 8 May 2026 | Herr Amy E. Director | Sold | 6,636 | $48.28 | $320,386 |
| 17 February 2026 | Herr Amy E. Director | Sold | 1,976 | $59.11 | $116,801 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- It isn't cheap on profits: 44.9× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.