Techne Corp. (TECH) Trading Up 0.9%
Shares of Techne Corp. (NASDAQ:TECH) were up 0.9% during trading on Wednesday . The company traded as high as $105.67 and last traded at $105.40, with a volume of 65,305 shares trading hands. The stock had previously closed at $104.50.
A number of analysts recently commented on TECH shares. Zacks Investment Research cut shares of Techne Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Robert W. Baird upped their price objective on shares of Techne Corp. from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Leerink Swann restated a “hold” rating on shares of Techne Corp. in a research report on Sunday, July 10th. Finally, Janney Montgomery Scott upgraded shares of Techne Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the company from $100.00 to $118.00 in a research report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $115.40.
The company has a market capitalization of $3.92 billion and a PE ratio of 37.62. The firm has a 50-day moving average price of $110.29 and a 200 day moving average price of $102.57.
Techne Corp. (NASDAQ:TECH) last issued its earnings results on Wednesday, August 17th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by $0.04. The business had revenue of $134.80 million for the quarter, compared to analysts’ expectations of $129.23 million. Techne Corp.’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, equities research analysts predict that Techne Corp. will post $3.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 29th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $1.28 dividend on an annualized basis and a yield of 1.22%.
In other Techne Corp. news, Director Robert V. Baumgartner sold 3,533 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $107.10, for a total value of $378,384.30. Following the sale, the director now owns 9,592 shares in the company, valued at $1,027,303.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
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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