Bio-Techne Corp (TECH) Director Roger C. Lucas Sells 100 Shares
Bio-Techne Corp (NASDAQ:TECH) Director Roger C. Lucas sold 100 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $114.30, for a total value of $11,430.00. Following the completion of the sale, the director now owns 2,070 shares in the company, valued at approximately $236,601. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Bio-Techne Corp (NASDAQ TECH) opened at 117.03 on Wednesday. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 56.81 and a beta of 0.79. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $121.94. The stock’s 50 day moving average price is $116.60 and its 200-day moving average price is $109.30.
Bio-Techne Corp (NASDAQ:TECH) last issued its earnings results on Tuesday, August 8th. The biotechnology company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.10. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.18%. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the previous year, the firm posted $0.92 EPS. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. On average, equities research analysts forecast that Bio-Techne Corp will post $3.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, August 16th. This represents a $1.28 dividend on an annualized basis and a yield of 1.09%. Bio-Techne Corp’s payout ratio is 65.98%.
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A number of large investors have recently modified their holdings of TECH. Israel Discount Bank of New York acquired a new stake in shares of Bio-Techne Corp during the first quarter worth about $105,000. Flinton Capital Management LLC boosted its stake in shares of Bio-Techne Corp by 10.0% in the first quarter. Flinton Capital Management LLC now owns 1,056 shares of the biotechnology company’s stock worth $107,000 after buying an additional 96 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Bio-Techne Corp by 10.0% in the first quarter. Meadow Creek Investment Management LLC now owns 1,452 shares of the biotechnology company’s stock worth $148,000 after buying an additional 132 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Bio-Techne Corp by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,456 shares of the biotechnology company’s stock worth $171,000 after buying an additional 163 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Bio-Techne Corp by 49.9% in the first quarter. LS Investment Advisors LLC now owns 1,712 shares of the biotechnology company’s stock worth $174,000 after buying an additional 570 shares during the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. Zacks Investment Research lowered Bio-Techne Corp from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. BidaskClub upgraded Bio-Techne Corp from a “sell” rating to a “hold” rating in a research note on Saturday. Deutsche Bank AG upped their price objective on Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Citigroup Inc. restated a “buy” rating and issued a $125.00 price objective (up previously from $115.00) on shares of Bio-Techne Corp in a research note on Wednesday, May 3rd. Finally, TheStreet upgraded Bio-Techne Corp from a “c+” rating to a “b” rating in a research note on Tuesday, May 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $125.20.
About Bio-Techne Corp
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.
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