Bio-Techne (TECH)
Market Price (2/3/2026): $65.35 | Market Cap: $10.2 BilSector: Health Care | Industry: Life Sciences Tools & Services
Bio-Techne (TECH)
Market Price (2/3/2026): $65.35Market Cap: $10.2 BilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% | Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -89% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 88x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 40x, P/EPrice/Earnings or Price/(Net Income) is 130x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% | Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.0% | |
| Low stock price volatilityVol 12M is 43% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% | |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more. | Key risksTECH key risks include [1] a dependence on government research funding, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 21% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -89% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 88x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 40x, P/EPrice/Earnings or Price/(Net Income) is 130x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9% |
| Key risksTECH key risks include [1] a dependence on government research funding, Show more. |
Qualitative Assessment
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1. Analyst Optimism and Raised Price Targets
Bio-Techne experienced a positive boost from investment analysts. On October 31, 2025, Baird raised its price target for Bio-Techne to $62 from $53, contributing to a 2.8% jump in shares that day. Subsequently, around November 6, 2025, UBS Group also increased its price target for the stock from $65.00 to $70.00 and issued a "buy" rating. By January 31, 2026, analysts maintained a consensus "Buy" rating for Bio-Techne, with a median price target of $70.92, reflecting a favorable outlook for the company.
2. Solid Q1 Fiscal 2026 Earnings Performance
The company's Q1 fiscal 2026 earnings report, released on November 5, 2025, contributed to investor confidence. Bio-Techne reported an Earnings Per Share (EPS) of $0.42, which aligned with analyst consensus estimates. Although revenue slightly decreased year-over-year, the company highlighted improved operating margins due to the divestiture of Exosome Diagnostics and successful cost-saving initiatives. Furthermore, Bio-Techne noted stabilization in the U.S. academic market and growth in its ProteinSimple and Spatial Biology segments, along with some cell therapy customers receiving FDA Fast Track Designation. The company also achieved a significant 40% reduction in Scope 1 and 2 emissions in fiscal 2025 by transitioning its largest site to 100% renewable electricity.
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Stock Movement Drivers
Fundamental Drivers
The 4.4% change in TECH stock from 10/31/2025 to 2/2/2026 was primarily driven by a 6.5% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.49 | 65.25 | 4.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,220 | 1,217 | -0.2% |
| Net Income Margin (%) | 6.0% | 6.4% | 6.5% |
| P/E Multiple | 132.6 | 130.1 | -1.9% |
| Shares Outstanding (Mil) | 156 | 155 | 0.2% |
| Cumulative Contribution | 4.4% |
Market Drivers
10/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| TECH | 4.4% | |
| Market (SPY) | 2.0% | 36.4% |
| Sector (XLV) | 7.9% | 56.4% |
Fundamental Drivers
The 19.6% change in TECH stock from 7/31/2025 to 2/2/2026 was primarily driven by a 99.4% change in the company's P/E Multiple.| (LTM values as of) | 7312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 54.57 | 65.25 | 19.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,209 | 1,217 | 0.7% |
| Net Income Margin (%) | 10.9% | 6.4% | -41.2% |
| P/E Multiple | 65.2 | 130.1 | 99.4% |
| Shares Outstanding (Mil) | 157 | 155 | 1.2% |
| Cumulative Contribution | 19.6% |
Market Drivers
7/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| TECH | 19.6% | |
| Market (SPY) | 10.3% | 28.7% |
| Sector (XLV) | 19.9% | 60.4% |
Fundamental Drivers
The -10.8% change in TECH stock from 1/31/2025 to 2/2/2026 was primarily driven by a -50.2% change in the company's Net Income Margin (%).| (LTM values as of) | 1312025 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.13 | 65.25 | -10.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,172 | 1,217 | 3.9% |
| Net Income Margin (%) | 12.9% | 6.4% | -50.2% |
| P/E Multiple | 76.9 | 130.1 | 69.1% |
| Shares Outstanding (Mil) | 159 | 155 | 2.0% |
| Cumulative Contribution | -10.8% |
Market Drivers
1/31/2025 to 2/2/2026| Return | Correlation | |
|---|---|---|
| TECH | -10.8% | |
| Market (SPY) | 16.6% | 53.6% |
| Sector (XLV) | 7.4% | 66.8% |
Fundamental Drivers
The -16.9% change in TECH stock from 1/31/2023 to 2/2/2026 was primarily driven by a -75.5% change in the company's Net Income Margin (%).| (LTM values as of) | 1312023 | 2022026 | Change |
|---|---|---|---|
| Stock Price ($) | 78.53 | 65.25 | -16.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,118 | 1,217 | 8.9% |
| Net Income Margin (%) | 26.1% | 6.4% | -75.5% |
| P/E Multiple | 42.2 | 130.1 | 208.2% |
| Shares Outstanding (Mil) | 157 | 155 | 0.9% |
| Cumulative Contribution | -16.9% |
Market Drivers
1/31/2023 to 2/2/2026| Return | Correlation | |
|---|---|---|
| TECH | -16.9% | |
| Market (SPY) | 77.5% | 45.4% |
| Sector (XLV) | 22.2% | 56.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TECH Return | 63% | -36% | -6% | -6% | -18% | 9% | -17% |
| Peers Return | 40% | -23% | -11% | -0% | -1% | 1% | -6% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| TECH Win Rate | 75% | 42% | 50% | 42% | 50% | 50% | |
| Peers Win Rate | 77% | 42% | 50% | 43% | 50% | 10% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TECH Max Drawdown | -1% | -45% | -36% | -19% | -35% | 0% | |
| Peers Max Drawdown | -7% | -36% | -30% | -9% | -27% | -2% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TMO, DHR, A, BIO, RVTY. See TECH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/2/2026 (YTD)
How Low Can It Go
| Event | TECH | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -60.8% | -25.4% |
| % Gain to Breakeven | 155.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -27.2% | -33.9% |
| % Gain to Breakeven | 37.4% | 51.3% |
| Time to Breakeven | 45 days | 148 days |
| 2018 Correction | ||
| % Loss | -35.0% | -19.8% |
| % Gain to Breakeven | 53.8% | 24.7% |
| Time to Breakeven | 127 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -44.3% | -56.8% |
| % Gain to Breakeven | 79.4% | 131.3% |
| Time to Breakeven | 841 days | 1,480 days |
Compare to TMO, DHR, A, BIO, RVTY
In The Past
Bio-Techne's stock fell -60.8% during the 2022 Inflation Shock from a high on 9/24/2021. A -60.8% loss requires a 155.0% gain to breakeven.
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About Bio-Techne (TECH)
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- Bio-Techne is like **Thermo Fisher Scientific** for specialized biological research tools and premium reagents.
- Think of Bio-Techne as the **Intel** for the life sciences industry, providing the critical 'components' that power scientific discovery.
AI Analysis | Feedback
Here are the major products and services of Bio-Techne:- Proteins and Antibodies: Provides a comprehensive portfolio of recombinant proteins, antibodies, and related reagents essential for life science research and diagnostics.
- Assay Kits and Systems: Offers various immunoassay kits, including ELISA and Luminex-based systems, designed for the detection and quantification of proteins.
- Laboratory Instruments: Develops and manufactures automated instruments for cell counting, protein analysis (e.g., Simple Western), and advanced liquid handling in research laboratories.
- Genomic Analysis Tools: Supplies products for advanced genomic analysis, such as RNAscope technology for precise in situ RNA visualization and quantification.
- Cell Culture Media: Manufactures specialized media and supplements critical for cell culture applications, particularly in cell and gene therapy development and bioproduction.
AI Analysis | Feedback
Bio-Techne (TECH) primarily sells its products and services to other companies and institutions, not directly to individuals. The company's customer base is highly diversified across the life sciences industry, and it generally does not have any single customer that accounts for 10% or more of its net sales. Therefore, rather than listing specific customer companies, the major customers can be categorized as follows:- Pharmaceutical Companies: Large and mid-sized pharmaceutical firms globally utilize Bio-Techne's reagents, instruments, and services for various stages of drug discovery, development, and manufacturing. These include many well-known public companies in the pharmaceutical sector, though none individually represent a "major customer" in terms of revenue concentration for Bio-Techne.
- Biotechnology Companies: This category encompasses a wide range of companies, from early-stage startups to established biotechnology leaders. They leverage Bio-Techne's tools for fundamental research, therapeutic development, gene editing, cell therapy, and diagnostics. Like pharmaceutical companies, these are numerous and highly diversified across the globe.
- Academic and Government Research Institutions: Universities, medical schools, and government-funded research laboratories worldwide are significant users of Bio-Techne's life science reagents and instrumentation. These institutions conduct a broad spectrum of basic and applied research, relying on Bio-Techne for their experimental needs. Examples include major universities and government research bodies like the National Institutes of Health (NIH).
- Clinical Diagnostic Laboratories: These laboratories use Bio-Techne's components, assays, and systems for *in vitro* diagnostic testing, patient monitoring, and other clinical applications.
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```htmlKim Kelderman, President and Chief Executive Officer
Kim Kelderman became President and Chief Executive Officer of Bio-Techne Corporation on February 1, 2024. He initially joined Bio-Techne on April 30, 2018, as President, Diagnostics and Genomics, and subsequently served as Chief Operating Officer from November 1, 2023, to January 31, 2024. Before his tenure at Bio-Techne, Mr. Kelderman held various leadership positions at Thermo Fisher Scientific, where he managed three distinct businesses, including the Platforms and Content of the Genetic Sciences Division. Prior to Thermo Fisher, he was a Senior Segment Leader at Becton Dickinson, overseeing the global Blood Tubes "Vacutainer" business. Mr. Kelderman joined the Board of Directors of CONMED Corporation on September 8, 2025.
James T. Hippel, Executive Vice President - Chief Financial Officer
James T. Hippel was appointed Chief Financial Officer of Bio-Techne on April 1, 2014. Before joining Bio-Techne, he served as Senior Vice President and CFO for Mirion Technologies, Inc., a global technology and manufacturing company specializing in radiation detection products. His career also includes a role as Vice President, Finance at Thermo Fisher Scientific, Inc., where he managed finance operations for its Mass Spectrometry & Chromatography and Laboratory Consumables divisions. Additionally, Mr. Hippel spent nine years in progressive financial leadership roles at Honeywell International within its Aerospace Segment and began his career at KPMG Peat Marwick LLP.
Will Geist, President, Protein Sciences Segment
Will Geist joined Bio-Techne on January 3, 2022, as President of the Protein Sciences Segment. Prior to his current role, Mr. Geist served as Chief Operating Officer at Quanterix, a company focused on immunoassay tools. He also led two major business units, qPCR and Protein & Cell Analysis, at Thermo Fisher Scientific. Earlier in his career, Mr. Geist was instrumental in the commercialization of Quanta BioSciences, a genomics tools company, from its startup phase through its acquisition by QIAGEN.
Matthew F. McManus, President, Diagnostics and Genomics
Matthew F. McManus became President, Diagnostics and Genomics, on January 8, 2024. Before this, he was the Executive Vice President and Chief Operating Officer at Azenta. Dr. McManus previously served as President and CEO of Asuragen, a company that Bio-Techne acquired in 2021. Following the acquisition, he became the Senior Vice President and General Manager of Bio-Techne's Molecular Diagnostics Division.
Gary Latham, Chief Technology Officer
Gary Latham became Bio-Techne's Chief Technology Officer on August 6, 2023, having joined the company through its acquisition of Asuragen in April 2021. He was the Chief Scientific Officer at Asuragen since its founding in March 2006, where he oversaw technology and product development, including the AmplideX® PCR chemistry and genetic kits. From 2000 to 2006, Mr. Latham held an R&D section head position at Ambion, where he developed commercially successful enzyme tools and research kits.
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The key risks to Bio-Techne's business include regulatory and government funding challenges, intense competition, and macroeconomic and geopolitical risks.
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Regulatory and Government Funding Challenges: Bio-Techne operates in the life sciences and diagnostics sectors, which are subject to stringent regulatory scrutiny. The company faces risks associated with changes in regulations, failure to comply with existing ones, and potential legal challenges. A significant risk stems from government policy headwinds, including reduced academic research funding (such as from the NIH), and U.S. healthcare reforms. These factors can limit near-term growth and impact research and development spending.
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Intense Competition: Bio-Techne operates in a highly competitive industry characterized by rapid technological advancements and continuous innovation. The company must consistently invest in research and development to maintain its competitive edge. Competitors may introduce new products or pricing strategies, which could lead to an erosion of Bio-Techne's market share and impact its profitability.
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Macroeconomic and Geopolitical Risks (particularly China): Bio-Techne has a global customer base and international operations, with China accounting for approximately 8-9% of its revenue. This exposes the company to various risks such as international economic, political, and labor conditions, currency fluctuations, and unexpected changes in legislative or regulatory requirements. Macroeconomic risks in China, including impacts on R&D spending and potential U.S.-China tariffs, are specific concerns that could affect operating profits and growth in the Asia Pacific region.
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The intensifying competition in the rapidly growing spatial biology market, specifically from emerging high-plex, high-resolution spatial multiomics platforms such as 10x Genomics' Xenium and NanoString's CosMx SMI. These newer technologies are directly challenging Bio-Techne's Advanced Cell Diagnostics (ACD) RNAscope platform by offering significantly increased multiplexing capabilities and throughput, which could erode RNAscope's market share and limit its growth potential in advanced research and clinical applications.
AI Analysis | Feedback
Bio-Techne (NASDAQ: TECH) operates primarily in two segments: Protein Sciences and Diagnostics and Spatial Biology. The addressable markets for their main products and services are as follows:
- Spatial Biology (Global): The global spatial biology market was estimated at approximately USD 1.64 billion in 2024, projected to reach USD 1.79 billion in 2025, and is expected to grow to USD 2.88 billion by 2030, at a compound annual growth rate (CAGR) of 9.85%. More specifically, the global spatial OMICS market was estimated at USD 711.0 million in 2024 and is expected to reach USD 1,696.5 million by 2030, growing at a CAGR of 16.26% from 2025 to 2030. The global spatial genomics and transcriptomics market was calculated at USD 288.35 million in 2024 and is predicted to reach approximately USD 911.71 million by 2034, expanding at a CAGR of 12.20% from 2025 to 2034.
- Exosome Research, Diagnostics, and Therapeutics (Global): The global market for exosome diagnostics, therapeutics, and research tools and reagents was estimated at approximately USD 227.5 million in 2023 and is projected to reach USD 1.3 billion by 2028, growing at a CAGR of 42.2%. Another report valued the global exosome research market at USD 189.4 million in 2024, growing to USD 214.4 million in 2025, and projected to reach USD 480.6 million by 2030 at a CAGR of 17.5%. Additionally, the global exosomes market size was estimated at USD 177.4 million in 2024 and is projected to reach USD 794.2 million by 2030, growing at a CAGR of 28.73% from 2025 to 2030.
- Cell and Gene Therapy Tools and Reagents (Global): The global cell and gene therapy tools and reagents market was calculated at USD 10.04 billion in 2024, grew to USD 11.12 billion in 2025, and is projected to reach around USD 27.3 billion by 2034, expanding at a CAGR of 10.76% between 2025 and 2034. The global market for cell and gene therapy (CGT) tools and reagents is estimated to increase from USD 10.0 billion in 2024 to reach USD 16.7 billion by 2029, at a CAGR of 10.8% from 2024 through 2029.
- Clinical Diagnostics (Global): The global clinical diagnostics market size was valued at USD 86.9 billion in 2024 and is estimated to reach USD 156.4 billion by 2033, exhibiting a CAGR of 6.05% from 2025-2033. North America currently dominates this market. Other estimates show the global clinical diagnostics market size at USD 115.51 billion in 2024, anticipated to reach USD 169.23 billion by 2030, growing at a CAGR of 6.6% from 2025 to 2030.
- Research Grade Proteins (Global): The global research grade proteins market was valued at USD 985.25 million in 2024 and is projected to grow at a CAGR of 10.8% from 2025 to 2034. North America dominated the global market for research grade proteins in 2024.
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Bio-Techne (NASDAQ: TECH) is positioned for future revenue growth over the next 2-3 years, driven by advancements and strategic initiatives across several key areas:
- Spatial Biology Expansion and New Product Launches: Bio-Techne anticipates sequential improvement in its spatial biology segment. A significant driver is the recent launch of the ProximityScope™ assay, a spatial solution integrated with Leica Biosystems' BOND RX platform. This technology allows researchers to visualize functional protein-protein interactions within fixed tissue at subcellular resolution and is expected to reinforce the company's potential in precision medicine and AI-powered biomarker discovery.
- Continued Momentum in the ProteinSimple Instrument Franchise: The ProteinSimple instrument franchise, including the Simple Western (LEO) platform, continues to build momentum with robust utilization and double-digit growth in cartridge consumable sales. Further innovation in this area, such as upcoming ultrasensitive cartridges for the Simple Plex immunoassay platform, is expected to contribute to revenue.
- Cell Therapy Market Recovery and Strategic Positioning: While the cell therapy market has experienced near-term headwinds due to the "lumpiness of late-stage clinical programs" and accelerated FDA Fast Track designations, Bio-Techne is strategically positioned for future growth. The company highlights the significance of Wilson Wolf's G-Rex bioreactor and its upcoming full acquisition, aiming to create a more cost-effective and scalable manufacturing solution for cell therapy developers. Management expects these headwinds to moderate, leading to a return to positive organic growth in the second half of the fiscal year.
- Strong Demand from Large Pharma and Geographic Expansion in China: Revenue from large pharmaceutical customers has demonstrated strong performance, increasing in low double digits, indicating sustained demand for Bio-Techne's tools and technologies. Additionally, China has delivered consecutive quarters of growth, reflecting the company's strategic focus on international markets and improving conditions there.
- Growth in the Diagnostics Business: Bio-Techne's Diagnostics business is also expected to contribute to revenue growth, with reported mid-single-digit growth in this segment.
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Share Repurchases
- Bio-Techne authorized a new share repurchase program of up to $500 million on April 30, 2025, which replaced a previous program from February 2, 2022.
- The company returned $276 million to shareholders through share buybacks in fiscal year 2025.
- Bio-Techne completed two share repurchase tranches, amounting to approximately $496.33 million as of June 2025.
Share Issuance
- Shares issued amounted to $6.2 million for the quarter ending June 2025.
- Average diluted shares outstanding decreased by 3% year-over-year in both Q4 fiscal 2025 and Q1 fiscal 2026.
Outbound Investments
- Bio-Techne acquired Lunaphore SA in June 2023 (beginning of fiscal 2024).
- The company acquired Namocell in June 2022.
- Bio-Techne announced an agreement to acquire Asuragen, Inc. for an initial consideration of $215 million in cash, plus contingent consideration of up to $105 million, on March 3, 2021.
- A 19.9% investment was made in Wilson Wolf Corporation in fiscal 2023, with plans to acquire the remaining ownership by the end of calendar year 2027.
- Bio-Techne made an investment in Spear Bio at the beginning of fiscal 2025 and participated in its $45 million Series A funding round in 2024.
Capital Expenditures
- Net capital expenditures were $4.9 million in Q4 fiscal 2025 and $5.4 million in Q1 fiscal 2026.
- The primary focus of capital expenditures includes advancing next-generation automated proteomic analysis and spatial biology platforms, expanding cell therapy applications, and reinvigorating the core reagents portfolio with investments in organoid research and AI-driven protein development.
- The divestiture of the Exosome Diagnostics business in Q1 fiscal 2026 allows the company to emphasize investment and commercial priorities on non-CLIA based product lines in their growth pillars.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 179.40 |
| Mkt Cap | 25.2 |
| Rev LTM | 4,881 |
| Op Inc LTM | 920 |
| FCF LTM | 825 |
| FCF 3Y Avg | 835 |
| CFO LTM | 1,067 |
| CFO 3Y Avg | 1,060 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.3% |
| Rev Chg 3Y Avg | -1.1% |
| Rev Chg Q | 3.3% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Mgn LTM | 18.7% |
| Op Mgn 3Y Avg | 19.3% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 20.5% |
| CFO/Rev 3Y Avg | 21.1% |
| FCF/Rev LTM | 17.1% |
| FCF/Rev 3Y Avg | 17.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 25.2 |
| P/S | 5.3 |
| P/EBIT | 30.0 |
| P/E | 39.4 |
| P/CFO | 24.8 |
| Total Yield | 2.1% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.8% |
| 3M Rtn | 3.8% |
| 6M Rtn | 18.8% |
| 12M Rtn | -10.4% |
| 3Y Rtn | -13.4% |
| 1M Excs Rtn | -2.0% |
| 3M Excs Rtn | 2.1% |
| 6M Excs Rtn | 7.6% |
| 12M Excs Rtn | -24.7% |
| 3Y Excs Rtn | -86.3% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Protein Sciences | 831 | 846 | 832 | 705 | 555 |
| Diagnostics and Spatial Biology | 326 | 293 | 275 | 228 | 185 |
| Intersegment | 4 | -2 | -2 | -1 | -1 |
| Other revenue | -2 | 0 | |||
| Total | 1,159 | 1,137 | 1,106 | 931 | 739 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Protein Sciences | 355 | 374 | 378 | 330 | 235 |
| Diagnostics and Spatial Biology | 25 | 43 | 49 | 38 | 15 |
| Impact of business held-for-sale | 1 | 0 | |||
| Costs recognized on sale of acquired inventory | -1 | -0 | -2 | -2 | |
| Certain Litigation Charges | -4 | 0 | |||
| Acquisition related expenses and other | -7 | 10 | 19 | -7 | -0 |
| Corporate general, selling, and administrative | -9 | -7 | -5 | -5 | -4 |
| Restructuring and restructuring-related costs | -12 | -4 | -2 | -0 | -0 |
| Impairment of assets held-for-sale | -22 | 0 | |||
| Stock based compensation, inclusive of employer taxes | -40 | -41 | -46 | -52 | -34 |
| Amortization of intangibles | -78 | -76 | -73 | -64 | -61 |
| Eminence impairment | 0 | -19 | |||
| Impact of partially-owned consolidated subsidiaries | 1 | -2 | -2 | ||
| Gain on escrow settlement | 7 | ||||
| Total | 207 | 299 | 297 | 237 | 157 |
Price Behavior
| Market Price | $65.25 | |
| Market Cap ($ Bil) | 10.1 | |
| First Trading Date | 12/09/1992 | |
| Distance from 52W High | -12.8% | |
| 50 Days | 200 Days | |
| DMA Price | $63.00 | $56.15 |
| DMA Trend | up | up |
| Distance from DMA | 3.6% | 16.2% |
| 3M | 1YR | |
| Volatility | 33.7% | 43.3% |
| Downside Capture | 155.88 | 155.01 |
| Upside Capture | 177.82 | 119.58 |
| Correlation (SPY) | 35.9% | 53.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.72 | 1.19 | 1.07 | 1.05 | 1.20 | 1.12 |
| Up Beta | 3.21 | 4.12 | 2.35 | 1.74 | 1.16 | 1.09 |
| Down Beta | -1.69 | -0.88 | -0.73 | -0.07 | 1.02 | 1.12 |
| Up Capture | 280% | 180% | 166% | 145% | 131% | 89% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 11 | 20 | 27 | 58 | 120 | 359 |
| Down Capture | 140% | 196% | 150% | 126% | 127% | 107% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 9 | 21 | 34 | 67 | 131 | 392 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TECH | |
|---|---|---|---|---|
| TECH | -9.8% | 43.2% | -0.12 | - |
| Sector ETF (XLV) | 7.1% | 17.2% | 0.24 | 66.7% |
| Equity (SPY) | 16.0% | 19.2% | 0.64 | 53.5% |
| Gold (GLD) | 66.9% | 23.7% | 2.11 | -0.4% |
| Commodities (DBC) | 7.0% | 16.3% | 0.23 | 8.8% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 49.1% |
| Bitcoin (BTCUSD) | -19.7% | 39.9% | -0.46 | 21.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TECH | |
|---|---|---|---|---|
| TECH | -4.8% | 37.4% | -0.03 | - |
| Sector ETF (XLV) | 7.3% | 14.5% | 0.33 | 58.1% |
| Equity (SPY) | 14.1% | 17.1% | 0.66 | 54.3% |
| Gold (GLD) | 19.9% | 16.6% | 0.97 | 9.6% |
| Commodities (DBC) | 11.4% | 18.9% | 0.49 | 7.6% |
| Real Estate (VNQ) | 4.5% | 18.8% | 0.15 | 50.1% |
| Bitcoin (BTCUSD) | 20.9% | 57.6% | 0.56 | 21.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TECH | |
|---|---|---|---|---|
| TECH | 12.9% | 32.7% | 0.45 | - |
| Sector ETF (XLV) | 10.6% | 16.6% | 0.53 | 55.8% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 53.6% |
| Gold (GLD) | 15.0% | 15.3% | 0.81 | 5.8% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 12.6% |
| Real Estate (VNQ) | 5.8% | 20.8% | 0.25 | 42.8% |
| Bitcoin (BTCUSD) | 71.1% | 66.4% | 1.10 | 14.9% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2025 | -1.9% | -3.0% | 1.1% |
| 8/6/2025 | -8.7% | -3.3% | -3.0% |
| 5/7/2025 | 2.2% | 8.2% | 1.4% |
| 2/5/2025 | 3.7% | -5.8% | -12.5% |
| 10/30/2024 | 7.5% | 9.7% | 6.7% |
| 8/7/2024 | -9.5% | -6.3% | -7.6% |
| 5/1/2024 | 16.2% | 22.5% | 22.3% |
| 2/1/2024 | -2.5% | -5.6% | 5.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 14 |
| # Negative | 10 | 13 | 10 |
| Median Positive | 5.5% | 9.6% | 6.5% |
| Median Negative | -2.2% | -4.9% | -7.3% |
| Max Positive | 16.2% | 23.9% | 25.5% |
| Max Negative | -9.5% | -8.3% | -15.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/22/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/22/2024 | 10-K |
| 03/31/2024 | 05/06/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/23/2023 | 10-K |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/07/2022 | 10-Q |
| 06/30/2022 | 08/24/2022 | 10-K |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/07/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Nusse, Roeland | Direct | Sell | 8272025 | 56.36 | 17,040 | 960,388 | 2,511,381 | Form | |
| 2 | Baumgartner, Robert V | Direct | Sell | 8272025 | 56.21 | 17,040 | 957,818 | 2,521,749 | Form | |
| 3 | Herr, Amy E | significant other | Sell | 6102025 | 49.77 | 1,280 | 63,705 | 98,344 | Form | |
| 4 | Herr, Amy E | significant other | Sell | 2182025 | 65.96 | 1,860 | 122,691 | 130,342 | Form | |
| 5 | Kelderman, Kim | Chief Executive Officer | Direct | Sell | 1292025 | 77.29 | 13,392 | 1,035,013 | 3,014,461 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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