BIO-TECHNE Corp (NASDAQ:TECH) CEO Sells $22,262.00 in Stock

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BIO-TECHNE Corp (NASDAQ:TECH) CEO Charles R. Kummeth sold 100 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $222.62, for a total transaction of $22,262.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Charles R. Kummeth also recently made the following trade(s):

  • On Wednesday, November 27th, Charles R. Kummeth sold 11,772 shares of BIO-TECHNE stock. The stock was sold at an average price of $222.12, for a total transaction of $2,614,796.64.
  • On Monday, September 9th, Charles R. Kummeth bought 200 shares of BIO-TECHNE stock. The shares were acquired at an average cost of $185.00 per share, with a total value of $37,000.00.

TECH stock traded down $0.38 during trading on Monday, reaching $217.87. The stock had a trading volume of 88,608 shares, compared to its average volume of 166,175. BIO-TECHNE Corp has a one year low of $132.75 and a one year high of $222.87. The company has a quick ratio of 3.41, a current ratio of 4.44 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $207.66 and its two-hundred day moving average is $203.18. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 57.33, a P/E/G ratio of 4.67 and a beta of 1.23.

BIO-TECHNE (NASDAQ:TECH) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.14. BIO-TECHNE had a net margin of 12.68% and a return on equity of 13.36%. The business had revenue of $183.24 million during the quarter, compared to the consensus estimate of $179.38 million. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that BIO-TECHNE Corp will post 4.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Thursday, November 7th. BIO-TECHNE’s payout ratio is 33.68%.

Several research firms have recently commented on TECH. Leerink Swann reissued an “outperform” rating and set a $240.00 target price (up from $230.00) on shares of BIO-TECHNE in a research report on Thursday, September 26th. ValuEngine raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus began coverage on shares of BIO-TECHNE in a research report on Thursday, November 14th. They set a “buy” rating and a $235.00 target price for the company. TheStreet raised shares of BIO-TECHNE from a “c+” rating to a “b-” rating in a research report on Wednesday, November 27th. Finally, BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $224.50.

A number of hedge funds have recently modified their holdings of the business. Voloridge Investment Management LLC lifted its stake in shares of BIO-TECHNE by 5.4% during the 3rd quarter. Voloridge Investment Management LLC now owns 23,717 shares of the biotechnology company’s stock valued at $4,641,000 after buying an additional 1,215 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of BIO-TECHNE by 2.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 107,196 shares of the biotechnology company’s stock valued at $20,975,000 after buying an additional 2,410 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of BIO-TECHNE by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 60,371 shares of the biotechnology company’s stock valued at $11,813,000 after buying an additional 720 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of BIO-TECHNE by 11.6% during the 3rd quarter. Stifel Financial Corp now owns 9,315 shares of the biotechnology company’s stock valued at $1,825,000 after buying an additional 969 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of BIO-TECHNE by 12.7% during the 3rd quarter. Voya Investment Management LLC now owns 15,368 shares of the biotechnology company’s stock valued at $3,007,000 after buying an additional 1,729 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

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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