Bio-Techne (NASDAQ:TECH) Hits New 12-Month High at $343.09


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Shares of Bio-Techne Co. (NASDAQ:TECH) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $343.09 and last traded at $343.09, with a volume of 1007 shares traded. The stock had previously closed at $330.58.

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their price target on Bio-Techne from $289.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, November 6th. SVB Leerink raised their price objective on Bio-Techne from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. KeyCorp began coverage on Bio-Techne in a research note on Monday, November 9th. They issued a “sector weight” rating and a $340.00 target price on the stock. Atlantic Securities began coverage on Bio-Techne in a research report on Wednesday, September 30th. They set an “overweight” rating and a $365.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Bio-Techne from a “hold” rating to a “sell” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $297.55.

The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.92 and a current ratio of 4.88. The firm has a market capitalization of $13.25 billion, a P/E ratio of 57.10, a P/E/G ratio of 7.83 and a beta of 0.98. The stock’s 50 day simple moving average is $314.12 and its 200 day simple moving average is $278.00.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.33. The firm had revenue of $204.20 million for the quarter, compared to the consensus estimate of $185.04 million. Bio-Techne had a net margin of 31.04% and a return on equity of 11.94%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. On average, analysts anticipate that Bio-Techne Co. will post 4.83 earnings per share for the current year.

In related news, CEO Charles R. Kummeth sold 5,000 shares of the firm’s stock in a transaction on Monday, December 7th. The shares were sold at an average price of $308.00, for a total transaction of $1,540,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO James Hippel sold 10,000 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $333.63, for a total transaction of $3,336,300.00. Following the transaction, the chief financial officer now directly owns 19,137 shares of the company’s stock, valued at approximately $6,384,677.31. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,680 shares of company stock valued at $15,599,696. Corporate insiders own 3.80% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Summit X LLC purchased a new position in shares of Bio-Techne during the third quarter worth $25,000. First Horizon Advisors Inc. raised its holdings in shares of Bio-Techne by 28.9% during the third quarter. First Horizon Advisors Inc. now owns 156 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 35 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Bio-Techne by 393.3% during the third quarter. Flagship Harbor Advisors LLC now owns 296 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 236 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Bio-Techne during the second quarter worth $93,000. Finally, Parallel Advisors LLC raised its holdings in shares of Bio-Techne by 11.2% during the third quarter. Parallel Advisors LLC now owns 428 shares of the biotechnology company’s stock worth $106,000 after purchasing an additional 43 shares during the last quarter. 94.49% of the stock is owned by hedge funds and other institutional investors.

Bio-Techne Company Profile (NASDAQ:TECH)

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets worldwide. The company operates in two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment offers proteins and reagent solutions, including cytokines and growth factors, antibodies, immunoassays, biologically active small molecule compounds, tissue culture reagents, and T-Cell activation technologies.

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