BIO-TECHNE Corp (NASDAQ:TECH) CEO Charles R. Kummeth Sells 100 Shares of Stock

BIO-TECHNE Corp (NASDAQ:TECH) CEO Charles R. Kummeth sold 100 shares of BIO-TECHNE stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $222.62, for a total value of $22,262.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 stock was purchased at an average cost of $185.00 per share, with a total value of $37,000.00.

NASDAQ TECH opened at $217.87 on Tuesday. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 57.33, a price-to-earnings-growth ratio of 4.67 and a beta of 1.23. 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 business has a 50-day moving average price of $208.70 and a 200-day moving average price of $203.48. BIO-TECHNE Corp has a twelve month low of $132.75 and a twelve month high of $222.87.

BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.14. BIO-TECHNE had a return on equity of 13.36% and a net margin of 12.68%. The company had revenue of $183.24 million for the quarter, compared to the consensus estimate of $179.38 million. During the same quarter last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts expect that BIO-TECHNE Corp will post 4.25 EPS for the current fiscal year.

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

Several equities analysts have weighed in on TECH shares. Stifel Nicolaus started coverage on shares of BIO-TECHNE in a report on Thursday, November 14th. They set a “buy” rating and a $235.00 price target on the stock. Leerink Swann reiterated an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of BIO-TECHNE in a research report on Thursday, September 26th. Zacks Investment Research cut shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. TheStreet upgraded shares of BIO-TECHNE from a “c+” rating to a “b-” rating in a research report on Wednesday, November 27th. Finally, BidaskClub upgraded shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $224.50.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of BIO-TECHNE by 869.7% in the first quarter. FMR LLC now owns 10,211 shares of the biotechnology company’s stock worth $2,028,000 after buying an additional 9,158 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in BIO-TECHNE by 13.4% during the second quarter. Commonwealth Equity Services LLC now owns 4,354 shares of the biotechnology company’s stock valued at $907,000 after acquiring an additional 513 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in BIO-TECHNE during the second quarter valued at $27,000. First Quadrant L P CA purchased a new position in BIO-TECHNE during the second quarter valued at $1,280,000. Finally, Arizona State Retirement System increased its holdings in BIO-TECHNE by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 27,487 shares of the biotechnology company’s stock valued at $5,731,000 after acquiring an additional 369 shares during the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

About BIO-TECHNE

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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