Bio-Techne Corp (TECH) Director Sells $12,094.00 in Stock
Bio-Techne Corp (NASDAQ:TECH) Director Roger C. Lucas sold 100 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $120.94, for a total transaction of $12,094.00. Following the transaction, the director now owns 1,970 shares of the company’s stock, valued at $238,251.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Bio-Techne Corp (TECH) traded down 0.86% during midday trading on Friday, reaching $121.99. 67,844 shares of the company traded hands. Bio-Techne Corp has a 12-month low of $95.68 and a 12-month high of $124.00. The firm has a market capitalization of $4.56 billion, a PE ratio of 60.09 and a beta of 0.78. The company has a 50-day moving average of $118.81 and a 200 day moving average of $111.82.
Bio-Techne Corp (NASDAQ:TECH) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.99 by $0.10. The company had revenue of $156.60 million during the quarter, compared to the consensus estimate of $150.25 million. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities analysts forecast that Bio-Techne Corp will post $3.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 16th. Bio-Techne Corp’s payout ratio is presently 65.98%.
Several large investors have recently bought and sold shares of TECH. Israel Discount Bank of New York bought a new stake in shares of Bio-Techne Corp during the first quarter worth about $105,000. Flinton Capital Management LLC grew its position in Bio-Techne Corp by 10.0% in the 1st quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after purchasing 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 1st quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after purchasing an additional 132 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Bio-Techne Corp by 12.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after purchasing 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 1st quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after purchasing an additional 570 shares in the last quarter. 98.77% of the stock is owned by institutional investors.
TECH has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Bio-Techne Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Wells Fargo & Company initiated coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They set a “market perform” rating for the company. Finally, Deutsche Bank AG set a $132.00 price objective on shares of Bio-Techne Corp and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $127.50.
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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