Shares of Techne Corp. (NASDAQ:TECH) reached a new 52-week high during trading on Thursday . The stock traded as high as $114.73 and last traded at $114.51, with a volume of 149,427 shares changing hands. The stock had previously closed at $112.95.

TECH has been the subject of several research reports. Zacks Investment Research downgraded shares of Techne Corp. from a “hold” rating to a “sell” rating in a research report on Friday, April 15th. Leerink Swann reiterated a “hold” rating and issued a $105.00 price target on shares of Techne Corp. in a research report on Thursday, May 5th. Finally, Janney Montgomery Scott upgraded shares of Techne Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $118.00 in a research report on Tuesday, May 3rd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $109.60.

The stock has a market capitalization of $4.29 billion and a P/E ratio of 40.99. The company has a 50-day moving average price of $111.00 and a 200 day moving average price of $96.03.

Techne Corp. (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. During the same quarter in the prior year, the business earned $0.88 EPS. The firm had revenue of $131 million for the quarter, compared to analysts’ expectations of $122.65 million. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Analysts expect that Techne Corp. will post $3.64 earnings per share for the current year.

In other news, Director Roger C. Lucas sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $100.24, for a total transaction of $50,120.00. Following the completion of the sale, the director now owns 3,915 shares of the company’s stock, valued at $392,439.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles A. Dinarello sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $101.91, for a total transaction of $509,550.00. Following the sale, the director now directly owns 6,559 shares of the company’s stock, valued at approximately $668,427.69. The disclosure for this sale can be found here.

Other hedge funds recently added to or reduced their stakes in the company. Suntrust Banks Inc. increased its stake in Techne Corp. by 35.9% in the fourth quarter. Suntrust Banks Inc. now owns 12,684 shares of the company’s stock worth $1,141,000 after buying an additional 3,351 shares during the last quarter. BHF Kleinwort Benson Group S.A. increased its stake in Techne Corp. by 65.8% in the fourth quarter. BHF Kleinwort Benson Group S.A. now owns 22,995 shares of the company’s stock worth $2,070,000 after buying an additional 9,130 shares during the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in Techne Corp. by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 23,950 shares of the company’s stock worth $2,155,000 after buying an additional 8,128 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Techne Corp. by 3.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 25,553 shares of the company’s stock worth $2,300,000 after buying an additional 966 shares during the last quarter. Finally, TD Asset Management Inc. increased its stake in Techne Corp. by 306.9% in the fourth quarter. TD Asset Management Inc. now owns 29,300 shares of the company’s stock worth $2,637,000 after buying an additional 22,100 shares during the last quarter.

Bio-Techne Corporation (Bio-Techne), formerly Techne Corporation, develops, manufactures and sells biotechnology reagents, instruments and clinical diagnostic products around the world. The Company has three business segments: the Biotechnology, Clinical Controls and Protein Platforms divisions. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products around the world.

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