Bio-Techne Corp (NASDAQ:TECH) Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $121.73, for a total value of $128,912.07. Following the transaction, the director now owns 914 shares of the company’s stock, valued at $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Bio-Techne Corp (TECH) opened at 119.91 on Monday. The stock has a market capitalization of $4.48 billion, a PE ratio of 58.21 and a beta of 0.78. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $124.00. The stock has a 50 day moving average price of $118.29 and a 200-day moving average price of $111.35.
Bio-Techne Corp (NASDAQ:TECH) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The company had revenue of $156.60 million during the quarter, compared to analyst estimates of $150.25 million. Bio-Techne Corp had a return on equity of 14.19% and a net margin of 12.93%. The firm’s revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.28 annualized dividend and a yield of 1.07%. Bio-Techne Corp’s dividend payout ratio is currently 65.98%.
Several equities analysts recently commented on TECH shares. Zacks Investment Research cut Bio-Techne Corp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Wells Fargo & Company initiated coverage on Bio-Techne Corp in a report on Thursday, July 13th. They issued a “market perform” rating for the company. Finally, Deutsche Bank AG set a $132.00 price objective on Bio-Techne Corp and gave the stock a “buy” rating in a report on Wednesday, August 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Bio-Techne Corp currently has an average rating of “Buy” and an average price target of $127.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Israel Discount Bank of New York purchased a new position in Bio-Techne Corp in the first quarter worth about $105,000. Flinton Capital Management LLC grew its position in Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after acquiring an additional 96 shares in the last quarter. Meadow Creek Investment Management LLC grew its position in Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after acquiring an additional 132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after acquiring an additional 163 shares in the last quarter. Finally, LS Investment Advisors LLC grew its position in Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after acquiring an additional 570 shares in the last quarter. Institutional investors own 98.77% of the company’s stock.
Bio-Techne Corp Company Profile
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.
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