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

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

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

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

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

In other news, CFO James Hippel sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $333.63, for a total transaction of $3,336,300.00. Following the completion of the sale, the chief financial officer now owns 19,137 shares in the company, valued at approximately $6,384,677.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles R. Kummeth sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 7th. The stock was sold at an average price of $308.00, for a total transaction of $1,540,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,680 shares of company stock valued at $15,599,696. 3.80% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Summit X LLC bought a new position in Bio-Techne during the third quarter valued at approximately $25,000. First Horizon Advisors Inc. lifted its holdings in Bio-Techne by 28.9% during the 3rd quarter. First Horizon Advisors Inc. now owns 156 shares of the biotechnology company’s stock worth $38,000 after buying an additional 35 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Bio-Techne by 393.3% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 296 shares of the biotechnology company’s stock worth $73,000 after buying an additional 236 shares in the last quarter. Private Advisor Group LLC acquired a new position in Bio-Techne during the 2nd quarter worth $93,000. Finally, Parallel Advisors LLC lifted its stake in shares of Bio-Techne by 11.2% in the 3rd quarter. Parallel Advisors LLC now owns 428 shares of the biotechnology company’s stock valued at $106,000 after purchasing an additional 43 shares during the period. 94.49% of the stock is currently owned by institutional investors and hedge funds.

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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