Bio-Techne Co. (NASDAQ:TECH) Director Sells $364,310.00 in Stock

Bio-Techne Co. (NASDAQ:TECHGet Rating) Director John L. Higgins sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $364.31, for a total transaction of $364,310.00. Following the completion of the sale, the director now directly owns 4,606 shares of the company’s stock, valued at approximately $1,678,011.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of TECH traded down $9.01 during mid-day trading on Thursday, hitting $355.44. 190,519 shares of the company’s stock were exchanged, compared to its average volume of 260,438. Bio-Techne Co. has a fifty-two week low of $335.02 and a fifty-two week high of $543.85. The company has a current ratio of 3.56, a quick ratio of 2.79 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $13.95 billion, a P/E ratio of 66.07, a P/E/G ratio of 1.99 and a beta of 1.24. The business’s 50 day moving average is $388.17 and its two-hundred day moving average is $417.88.

Bio-Techne (NASDAQ:TECHGet Rating) last released its earnings results on Wednesday, May 4th. The biotechnology company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.21. Bio-Techne had a net margin of 20.95% and a return on equity of 16.82%. The company had revenue of $290.40 million during the quarter, compared to the consensus estimate of $279.27 million. During the same quarter in the previous year, the firm earned $1.61 EPS. The company’s revenue was up 19.2% on a year-over-year basis. On average, equities research analysts forecast that Bio-Techne Co. will post 7.07 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 27th. Shareholders of record on Monday, May 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Friday, May 13th. Bio-Techne’s payout ratio is 23.36%.

Several institutional investors have recently modified their holdings of TECH. IFP Advisors Inc boosted its stake in shares of Bio-Techne by 20.8% during the 4th quarter. IFP Advisors Inc now owns 157 shares of the biotechnology company’s stock worth $83,000 after buying an additional 27 shares during the last quarter. Pendal Group Ltd grew its holdings in shares of Bio-Techne by 1.9% during the fourth quarter. Pendal Group Ltd now owns 1,471 shares of the biotechnology company’s stock valued at $761,000 after buying an additional 28 shares during the last quarter. BOK Financial Private Wealth Inc. raised its position in Bio-Techne by 3.4% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 893 shares of the biotechnology company’s stock worth $462,000 after acquiring an additional 29 shares during the period. Ascent Group LLC increased its holdings in Bio-Techne by 4.5% during the 1st quarter. Ascent Group LLC now owns 667 shares of the biotechnology company’s stock worth $289,000 after acquiring an additional 29 shares during the period. Finally, Foundry Partners LLC grew its stake in Bio-Techne by 2.7% in the 4th quarter. Foundry Partners LLC now owns 1,145 shares of the biotechnology company’s stock worth $592,000 after buying an additional 30 shares in the last quarter. Institutional investors own 94.36% of the company’s stock.

Several research firms have recently weighed in on TECH. KeyCorp reduced their price target on Bio-Techne from $600.00 to $500.00 in a report on Thursday, May 5th. StockNews.com started coverage on Bio-Techne in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Robert W. Baird decreased their price target on Bio-Techne from $520.00 to $500.00 in a research note on Thursday, May 5th. Wells Fargo & Company lowered Bio-Techne from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $400.00 to $370.00 in a research report on Monday, April 25th. Finally, Zacks Investment Research cut Bio-Techne from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $488.43.

About Bio-Techne (Get Rating)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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