Techne Corp. (TECH) Director Roger C. Lucas Sells 100 Shares
Techne Corp. (NASDAQ:TECH) Director Roger C. Lucas sold 100 shares of the stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $105.75, for a total transaction of $10,575.00. Following the transaction, the director now owns 4,029 shares in the company, valued at $426,066.75. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Techne Corp. (NASDAQ:TECH) traded down 0.701% during trading on Monday, hitting $104.045. 39,186 shares of the company traded hands. The company has a 50-day moving average of $105.13 and a 200-day moving average of $108.05. The stock has a market capitalization of $3.88 billion, a PE ratio of 39.727 and a beta of 0.72. Techne Corp. has a 52-week low of $79.95 and a 52-week high of $117.42.
Techne Corp. (NASDAQ:TECH) last posted its earnings results on Monday, October 31st. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.05. The firm earned $130.60 million during the quarter, compared to analysts’ expectations of $127.47 million. Techne Corp. had a return on equity of 14.40% and a net margin of 18.96%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities analysts expect that Techne Corp. will post $3.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 9th. Techne Corp.’s payout ratio is 48.85%.
Several analysts have commented on the stock. Robert W. Baird increased their price target on shares of Techne Corp. from $115.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. Zacks Investment Research lowered shares of Techne Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Leerink Swann assumed coverage on shares of Techne Corp. in a research report on Thursday, November 10th. They set an “outperform” rating and a $122.00 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $121.00.
A number of large investors have recently bought and sold shares of the company. Societe Generale acquired a new stake in Techne Corp. during the second quarter valued at $1,682,000. Oregon Public Employees Retirement Fund boosted its stake in Techne Corp. by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 12,381 shares of the company’s stock valued at $1,396,000 after buying an additional 302 shares during the last quarter. World Asset Management Inc acquired a new stake in Techne Corp. during the second quarter valued at $204,000. LS Investment Advisors LLC acquired a new stake in Techne Corp. during the second quarter valued at $103,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Techne Corp. by 182.4% in the second quarter. BNP Paribas Arbitrage SA now owns 21,034 shares of the company’s stock valued at $2,372,000 after buying an additional 13,587 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.
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.
Receive News & Stock Ratings for Techne Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Techne Corp. and related stocks with our FREE daily email newsletter.