Bio-Techne Corp

TECH: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$34.00	Ltrwbj	Lfnbrgzrk

Bio-Techne Starts Fiscal 2022 With Strong Growth Offset by Labor-Related Margin Pressure

Aaron Degagne

Nov 2, 2021

Narrow-moat Bio-Techne had a strong start to fiscal 2022, reporting organic sales growth of 21% and adjusted EPS increasing to $1.83 from $1.43 last year. We are maintaining our $320 fair value estimate and are not materially changing our long-term expectations. The shares trade well above our fair value estimate--at a 55% premium--even following the 4% decline in Nov. 2 trading.

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