BIO-TECHNE Corp (NASDAQ:TECH) Director Sells $435,700.00 in Stock
by Amy Steele
BIO-TECHNE Corp (NASDAQ:TECH) Director Harold J. Wiens sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $217.85, for a total value of $435,700.00. Following the transaction, the director now owns 7,221 shares in the company, valued at $1,573,094.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of BIO-TECHNE stock traded down $0.75 during trading on Monday, reaching $218.56. The company’s stock had a trading volume of 1,014 shares, compared to its average volume of 114,803. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.41 and a current ratio of 4.44. The business’s fifty day moving average price is $210.04 and its 200-day moving average price is $203.87. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 57.29, a price-to-earnings-growth ratio of 4.69 and a beta of 1.23. BIO-TECHNE Corp has a one year low of $132.75 and a one year high of $222.87.
BIO-TECHNE (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.14. The business had revenue of $183.24 million for the quarter, compared to analyst estimates of $179.38 million. BIO-TECHNE had a return on equity of 13.36% and a net margin of 12.68%. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that BIO-TECHNE Corp will post 4.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.59%. BIO-TECHNE’s payout ratio is presently 33.68%.
Institutional investors have recently bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its stake in shares of BIO-TECHNE by 20.2% in the third quarter. Candriam Luxembourg S.C.A. now owns 129,857 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 21,840 shares during the period. Advisory Services Network LLC increased its stake in BIO-TECHNE by 183.3% during the second quarter. Advisory Services Network LLC now owns 153 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 99 shares during the period. Flagship Harbor Advisors LLC increased its stake in BIO-TECHNE by 96.2% during the third quarter. Flagship Harbor Advisors LLC now owns 255 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 125 shares during the period. Quest Capital Management Inc. ADV bought a new position in BIO-TECHNE during the third quarter valued at about $54,000. Finally, HM Payson & Co. bought a new position in BIO-TECHNE during the second quarter valued at about $63,000. Institutional investors and hedge funds own 93.11% of the company’s stock.
Several research firms have weighed in on TECH. Stifel Nicolaus began coverage on BIO-TECHNE in a report on Thursday, November 14th. They set a “buy” rating and a $235.00 target price on the stock. BidaskClub upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. Leerink Swann restated an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of BIO-TECHNE in a report on Thursday, September 26th. Zacks Investment Research lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Finally, ValuEngine lowered BIO-TECHNE from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $224.50.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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