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BIO-TECHNE (TECH)

Bio-Techne Corporation develops, manufactures, and sells biotechnology reagents, instruments, and services for research and clinical diagnostic markets worldwide. The company operates through two main segments: Protein Sciences and Diagnostics and Genomics . Bio-Techne's offerings include high-quality biological reagents, diagnostic products, and advanced tissue-based assays, catering to both research and clinical needs .

  1. Protein Sciences - Develops and manufactures high-quality biological reagents, including cytokines, growth factors, antibodies, immunoassays, and small molecule compounds. Offers proteomic analytical tools for protein analysis, automated western blot, and multiplexed ELISA workflows.

  2. Diagnostics and Genomics - Develops and manufactures diagnostic products such as controls, calibrators, diagnostic assays, and exosome-based molecular diagnostic assays. Provides advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis.

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NamePositionExternal RolesShort Bio

James Hippel

Executive

EVP and CFO

None

CFO since 2014; previously held financial leadership roles at Mirion Technologies and Thermo Fisher Scientific.

Kim Kelderman

Executive

President and CEO

Board Member at StatLab Medical Products

Joined TECH in 2018; previously led Diagnostics and Genomics Segment; promoted to CEO in 2024.

View Report →

Matthew McManus

Executive

President, Diagnostics and Genomics

Chairman of the Board at ANSA

Joined TECH in 2021 after TECH acquired Asuragen, where he was CEO; promoted to current role in 2024.

Shane Bohnen

Executive

SVP, General Counsel, and Corporate Secretary

None

Joined TECH in 2019; promoted to General Counsel in 2023; previously held legal roles at Resideo Technologies and Smiths Medical.

William Geist

Executive

President, Protein Sciences Segment

None

Joined TECH in 2022; previously COO at Quanterix and held senior roles at Thermo Fisher Scientific.

Amy E. Herr

Board

Director

Chancellor’s Professor at UC Berkeley; VP of Chan Zuckerberg Biohub Network; Founding Executive Director of UC Berkeley’s Bakar BioEnginuity Hub

Director since 2025; bioengineering expert with leadership roles in academia and biotech; co-founder of Zephyrus Biosciences (acquired by TECH).

John L. Higgins

Board

Director

Chairman of the Board at OmniAb, Inc.

Director since 2009; former CEO of Ligand Pharmaceuticals; extensive experience in M&A and financial oversight.

Joseph D. Keegan, Ph.D.

Board

Director

Director at Interpace Diagnostics; Executive Chair at Halo Labs and Carterra; Non-Executive Chair at Arrayjet; Director at Nuclera and Biolog

Director since 2017; extensive experience in life sciences tools and diagnostics sectors.

Judith Klimovsky, M.D.

Board

Director

EVP and Chief Development Officer at Genmab A/S

Director since 2024; extensive experience in antibody therapeutics and oncology clinical development; previously grew Genmab's R&D team significantly.

Julie L. Bushman

Board

Director

Director at Adient, plc and Phillips 66

Retired EVP of International Operations at 3M; brings global operations and IT expertise.

Robert V. Baumgartner

Board

Independent Chair of the Board

Chair at United Theranostics, LLC; Board Member at OIA Global; Advisor to Sirona Medical

Director since 2003; Chair since 2012; extensive experience as CEO and Executive Chair in large businesses.

Rupert Vessey, MA, BM BCh, FRCP, DPhil

Board

Director

Executive Partner and Chief Scientist at Flagship Pioneering; Board Member at Generate: Biomedicines

Director since 2019; former President of Research and Early Development at Bristol-Myers Squibb; expertise in pharmaceutical R&D.

  1. Given the 100 basis point headwind from incentive compensation accrual restatements impacting operating margins, what concrete steps are you taking to improve margins back to historical levels, and what is your timeline to achieve your long-term target of up to 40% operating margins?

  2. Demand for your COMET platform continues to outpace your manufacturing capacity; what specific measures are you implementing to scale production, and how will you address potential supply constraints that could limit growth in this high-demand area?

  3. The strong growth in your Molecular Diagnostics segment was partly driven by one-time factors like inventory normalization; how sustainable is this growth moving forward, and what factors give you confidence that momentum can continue into fiscal 2025?

  4. With instrumentation sales under pressure and peers experiencing weakness in this area, how do you plan to drive growth in your instrumentation business, and can the double-digit growth in instrument-related consumables be sustained without corresponding instrument sales?

  5. The Protein Sciences segment has been heavily impacted by macroeconomic pressures, especially in China and biotech funding constraints; what strategies are you implementing to accelerate growth in this segment, and how confident are you in a second-half recovery given the uncertainties in these markets?

Research analysts who have asked questions during BIO-TECHNE earnings calls.

Puneet Souda

Leerink Partners

4 questions for TECH

Also covers: A, ABCL, BRKR +20 more

Daniel Leonard

Stifel Financial Corp.

3 questions for TECH

Also covers: A, AVTR, BIO +15 more

Matthew Larew

William Blair & Company

3 questions for TECH

Also covers: AMED, ATR, DNA +10 more

Patrick Donnelly

Citi

3 questions for TECH

Also covers: A, AVTR, BIO +20 more

Sung Ji Nam

Scotiabank

3 questions for TECH

Also covers: ADPT, BDSX, BNGO +9 more

Daniel Arias

Stifel, Nicolaus & Company, Incorporated

2 questions for TECH

Also covers: A, AVTR, CDXS +15 more

Daniel Markowitz

Evercore ISI

2 questions for TECH

Also covers: WST

Brandon Couillard

Wells Fargo & Company

1 question for TECH

Also covers: A, AVTR, BIO +9 more

Catherine Schulte

Baird

1 question for TECH

Also covers: A, CSTL, EXAS +7 more

Conor McNamara

RBC Capital Markets

1 question for TECH

Also covers: HOLX, ILMN, OABI +2 more

Dan Arias

Stifel Financial Corp.

1 question for TECH

Also covers: GH, ILMN, MRVI +6 more

Dan Leonard

UBS Group AG

1 question for TECH

Also covers: A, BIO, DHR +7 more

Hannah Hefley

Stephens

1 question for TECH

Also covers: AZTA, MASS, MXCT

Jacob Johnson

Stephens Inc.

1 question for TECH

Also covers: AZTA, CDMO, CDXS +11 more

Justin Bowers

Deutsche Bank AG

1 question for TECH

Also covers: AMED, CON, CRL +9 more

Kyle Boucher

TD Cowen

1 question for TECH

Also covers: LAB, MYGN, SEER +2 more

Mac Etoch

Stephens Inc.

1 question for TECH

Also covers: CYRX, STE, STVN +2 more

Matt Larew

William Blair & Co.

1 question for TECH

Also covers: AMED, MRVI, MXCT +5 more

Paul Knight

KeyBanc Capital Markets

1 question for TECH

Also covers: A, AZTA, BLFS +13 more

Thomas Peterson

Robert W. Baird & Co. Incorporated

1 question for TECH

Also covers: CSTL, TWST

Tom DeBourcy

Nephron Research LLC

1 question for TECH

Also covers: CDNA, NEOG, TWST +1 more
Program DetailsProgram 1
Approval DateFebruary 2, 2022
End Date/DurationN/A
Total additional amount$400 million
Remaining authorization amount$180.7 million
DetailsMitigate the dilutive effect of stock option exercises
YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
2025100Forward Starting SwapN/A25% = (100 / 400) * 100
2025200Forward Starting SwapN/A50% = (200 / 400) * 100
2026100Forward Starting SwapN/A25% = (100 / 400) * 100
2027300Revolving Credit FacilityVariable75% = (300 / 400) * 100
NameStart DateEnd DateReason for Change
KPMG LLP2002 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Lunaphore Technologies SA

2023

Bio-Techne acquired Lunaphore for $170.1 million in a cash-free, debt-free transaction, adding spatial biology instruments to enhance its translational and clinical research capabilities, with key assets including developed technologies valued at $60.3 million and recognized goodwill of $102.56 million.

Wilson Wolf Manufacturing LLC

2023

Bio-Techne made an investment acquiring approximately 20% for $257 million with a future option to acquire the remaining stake based on milestones, enhancing its position in cell and gene therapy through Wilson Wolf’s advanced cell production technology.

Namocell, Inc.

2022

Bio-Techne acquired Namocell for $101.2 million (with up to an additional $25 million contingent consideration), integrating its single cell sorting and dispensing platforms into the Protein Sciences segment to strengthen its cell and gene therapy workflow solutions and proteomic analytical tools portfolio.

Recent press releases and 8-K filings for TECH.

Bio-Techne outlines FY2026 guidance and FY2025 performance at Wells Fargo Healthcare Conference
·$TECH
Guidance Update
Product Launch
M&A
  • FY 2025 Q4 delivered 3% organic growth, led by double-digit China sales driven by tariff pull-forward.
  • Biopharma segment grew high single digits in Q4, powered by cell therapy products up 20% in Q4 and 30% for the full year.
  • Proteomic analytical instruments achieved double-digit growth in Q4, holding 15–20% market share, and saw the successful launch of LEO, offering fourfold price and throughput improvement.
  • Divestiture of ExosomeDx will immediately boost operating margin by 200 basis points.
  • FY 2026 guidance assumes low single-digit revenue growth and 100 basis-point full-year margin expansion, targeting exit-year +200 basis points.
Sep 3, 2025, 3:22 PM
Bio-Techne reports Q4 2025 earnings
·$TECH
Earnings
Guidance Update
M&A
  • Bio-Techne delivered 3% organic revenue growth and 4% reported revenue to $317 million in Q4 FY2025; Biopharma grew high single digits, Protein Sciences +4% and Diagnostics & Spatial Biology –1%; by region, Europe mid single digits, Americas low single digits, APAC ex-China low single digits and China low double digits.
  • Adjusted EPS was $0.53 with an adjusted operating margin of 32% and gross margin of 70.1%; announced divestiture of Exosome Diagnostics (Q4 FY25 revenue $25.9 million, –200 bps margin headwind) to MDxHealth, expected to close in Q1 FY2026.
  • Launched several strategic products in FY2025 including the LEO high-throughput Simple Western system, POPEX for GMP reagents, AI-enabled designer proteins and the ProPak GMP cytokine line; formed a distribution partnership with SPEAR Bio for ultra-sensitive Alzheimer’s immunoassays.
  • Outlook assumes low single digit organic growth until clarity on NIH funding, pharmaceutical tariffs and most-favored-nation drug pricing; expects ~100 bps of adjusted operating margin expansion in FY2026, ramping to ~200 bps by Q4 FY2026.
  • Wilson Wolf grew >20% with EBITDA margins >70% in FY2025; Bio-Techne plans to acquire the remaining 80% by end of calendar 2027 upon milestone achievement.
Aug 6, 2025, 11:45 PM
Bio-Techne partners with Spear Bio to expand ultrasensitive neuro biomarker access
·$TECH
Product Launch
New Projects/Investments
  • Bio-Techne will globally distribute SPEAR UltraDetect™ immunoassays from Spear Bio, enabling ultra-high sensitivity detection of neurodegenerative disease biomarkers via standard qPCR instruments.
  • The SPEAR platform uses Successive Proximity Extension Amplification Reaction technology licensed from Harvard University, achieving 100–1,000× higher sensitivity than traditional immunoassays.
  • Initial applications target Alzheimer’s translational research biomarkers, with broader potential in inflammation, oncology and other fields.
  • Bio-Techne’s shares trade near $51–$52, with an average analyst price target of $67.33 (implying 28% upside) and a consensus “Outperform” rating from 18 brokerages.
Jul 15, 2025, 11:27 AM
Bio-Techne Reports Solid Q3 Growth at Global Healthcare Conference
·$TECH
Revenue Acceleration/Inflection
M&A
Share Buyback
  • Q3 performance: Reported 6% overall organic growth and 7% growth in its protein sciences segment amid challenging macro conditions.
  • Market dynamics: Highlighted stability in the US academic market while noting negative mid-single digit growth in China; expressed long‐term optimism for China’s life science market.
  • Strategic initiatives: Emphasized strong instrument consumable pull-through and leveraging acquisitions, notably Wilson Wolf, to advance its cell and gene therapy strategy.
  • Outlook and capital allocation: Guided for low single digit growth in large pharma in Q4 with margin headwinds from tariffs, while continuing to focus on share buybacks and M&A opportunities.
Jun 10, 2025, 4:36 PM
Bio-Techne Addresses Growth and Market Volatility at Jefferies Global Healthcare Conference 2025
·$TECH
Revenue Acceleration/Inflection
New Projects/Investments
  • Academic market dynamics were discussed with emphasis on a potential worst-case 40% NIH funding cut—given that US academic sales account for about 12% of revenue, the impact on long-term growth is expected to be minimal.
  • Pharma performance remains robust despite a shift from double-digit to mid-single-digit growth, underpinned by diversified portfolios in cell therapy, proteomic instrumentation, and spatial solutions.
  • The instrument segment showed a return to growth after a prolonged period, with strong performance in key platforms such as the Maurice system and LUNA4, signaling renewed momentum in bioprocessing applications.
  • In the China market, where revenue concentration is significant, improved customer optimism and strategic initiatives—like targeted instrument replacements and flexible manufacturing shifts—are helping mitigate tariff impacts.
Jun 4, 2025, 9:36 PM
Bio-Techne Provides Strategic Growth Update at William Blair Conference
·$TECH
M&A
Share Buyback
New Projects/Investments
  • Company Overview: Bio-Techne presented its current strategic positioning, emphasizing its differentiated portfolio across protein sciences (72% of revenues) and diagnostic/spatial biology segments, with a 2024 revenue of $1.2 billion.
  • Growth Strategy Focus: The company highlighted key growth factors including the discovery of novel biological insights, advancements in cellular therapies, and enablement of precision diagnostics, underpinned by significant investments in innovation and M&A.
  • Operational Performance: The discussion underscored sustainable financial performance with a return to positive organic growth, in addition to initiatives like share buybacks and acquisitions to optimize the product portfolio.
Jun 4, 2025, 2:26 AM
Bio-Techne Q3 Conference Call Synopsis
·$TECH
Guidance Update
  • Solid Q3 performance was noted with an overall 6% growth, driven by the Protein Sciences segment (7% growth) and strong results in the core reagents business.
  • Management detailed efforts to mitigate tariff exposure, effectively reducing an anticipated $20M cost impact through strategic global manufacturing shifts.
  • Leaders provided a cautious outlook for Q4 and fiscal '26, addressing uncertainties across academic, biopharma, and spatial segments amid volatile market conditions.
May 13, 2025, 5:41 PM
Bio-Techne Q3 FY2025 Earnings, Dividend & Share Repurchase Update
·$TECH
Earnings
Revenue Acceleration/Inflection
Share Buyback
Dividends
  • Q3 FY2025 Results: Net sales reached $316.2M with 6% organic growth; Protein Sciences led with $227.7M (7% organic growth) while Diagnostics & Spatial Biology achieved 2% organic growth with robust instrument performance like COMET .
  • Profitability Initiatives: Achieved an improved adjusted operating margin of 34.9% through disciplined cost control, structural streamlining, and targeted initiatives .
  • Dividend & Share Repurchase: Declared a quarterly dividend of $0.08 per share (payable May 30, 2025) and launched a share repurchase program authorizing up to $500 million .
  • Earnings Performance: Reported adjusted EPS of $0.56 and GAAP EPS of $0.14 (down from $0.31 last year), emphasizing operational profitability .
  • Q4 Guidance: Management expects Q4 to see low-single digit organic growth amid macro headwinds, with full mitigation of tariff impacts by fiscal year 2026 .
May 7, 2025, 1:01 PM
Bio-Techne Addresses Market Volatility and Guidance Improvements
·$TECH
Guidance Update
Revenue Acceleration/Inflection
Demand Weakening
  • Academic market concerns were discussed with emphasis on a potential 50 basis point revenue impact from an 8% reduction in NIH funding, alongside early signs of recovery in March, indicating minimal long-term exposure.
  • Biopharma demand dynamics were highlighted, noting that smaller biotech orders began recovering earlier and large pharma unexpectedly outpaced expectations, which contributed to raised guidance for later quarters .
  • In China, robust demand for higher-end instrumentation was observed, driven by targeted government stimulus and scheduled equipment upgrades, underscoring the company's competitive position in that region.
Mar 12, 2025, 2:01 PM
Bio-Techne Reviews Funding Dynamics, Growth Drivers, and M&A Outlook
·$TECH
Revenue Acceleration/Inflection
M&A
Guidance Update
  • NIH funding impact discussed with a worst-case scenario of an 8% reduction translating to about a 50bps headwind, though long-term exposure remains limited.
  • China business now contributes around 8% of revenue with a historical 50/50 mix between instruments and consumables, and management sees early recovery signs through targeted stimulus initiatives.
  • The GMP protein business has grown from under $5M to over $60M annually with current double-digit growth and a long-term expected CAGR of roughly 30%, despite quarterly lumpiness.
  • Discussion included M&A activity, highlighting the potential acquisition of Wilson Wolf upon reaching thresholds of $226M TTM revenue or $136M EBITDA, targeting a 4.4x TTM revenue multiple.
Mar 11, 2025, 3:21 PM