Techne Corp. (TECH) Trading 0.9% Higher
Techne Corp. (NASDAQ:TECH) shares traded up 0.9% on Wednesday . The stock traded as high as $105.67 and last traded at $105.40, with a volume of 65,305 shares traded. The stock had previously closed at $104.50.
Several research analysts have recently weighed in on the stock. Leerink Swann reaffirmed a “hold” rating on shares of Techne Corp. in a report on Sunday, July 10th. Zacks Investment Research raised shares of Techne Corp. from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Wednesday, July 13th. Finally, Robert W. Baird upped their price target on shares of Techne Corp. from $115.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. One 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. The stock has an average rating of “Hold” and a consensus price target of $115.40.
The stock’s 50 day moving average is $109.91 and its 200-day moving average is $102.60. The firm has a market capitalization of $3.99 billion and a price-to-earnings ratio of 38.291.
Techne Corp. (NASDAQ:TECH) last posted 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 firm had revenue of $134.80 million for the quarter, compared to analysts’ expectations of $129.23 million. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. Equities research analysts anticipate that Techne Corp. will post $3.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 29th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, August 25th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.20%.
In related news, Director Robert V. Baumgartner sold 3,533 shares of Techne Corp. stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $107.10, for a total transaction of $378,384.30. Following the completion of the transaction, the director now directly owns 9,592 shares of the company’s stock, valued at approximately $1,027,303.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
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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