Shares of Techne Corp. (NASDAQ:TECH) dropped 2% during mid-day trading on Thursday . The stock traded as low as $112.00 and last traded at $112.02, with a volume of 104,049 shares trading hands. The stock had previously closed at $114.33.

TECH has been the topic of several analyst reports. Janney Montgomery Scott upgraded Techne Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $100.00 to $118.00 in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded Techne Corp. from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Saturday, May 7th. Finally, Leerink Swann restated a “hold” rating on shares of Techne Corp. in a research note on Sunday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Techne Corp. presently has an average rating of “Buy” and a consensus target price of $112.60.

The stock has a 50-day moving average price of $111.93 and a 200-day moving average price of $96.68. The company has a market cap of $4.16 billion and a PE ratio of 39.81.

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

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

Other institutional investors have recently modified their holdings of the company. Royce & Associates LLC raised its position in shares of Techne Corp. by 11.2% in the fourth quarter. Royce & Associates LLC now owns 908,569 shares of the company’s stock worth $81,771,000 after buying an additional 91,790 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Techne Corp. by 1.3% in the fourth quarter. Schroder Investment Management Group now owns 218,833 shares of the company’s stock worth $19,695,000 after buying an additional 2,900 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Techne Corp. by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 155,643 shares of the company’s stock worth $14,009,000 after buying an additional 18,374 shares during the period. Principal Financial Group Inc. raised its stake in shares of Techne Corp. by 0.9% in the fourth quarter. Principal Financial Group Inc. now owns 116,293 shares of the company’s stock worth $10,466,000 after buying an additional 1,043 shares during the period. Finally, I.G. Investment Management LTD. raised its stake in shares of Techne Corp. by 9.7% in the fourth quarter. I.G. Investment Management LTD. now owns 98,800 shares of the company’s stock worth $8,892,000 after buying an additional 8,700 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.