Techne Corp. (NASDAQ:TECH) Director Roger C. Lucas sold 100 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $108.91, for a total value of $10,891.00. Following the sale, the director now directly owns 3,315 shares in the company, valued at $361,036.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Roger C. Lucas also recently made the following trade(s):
- On Wednesday, August 17th, Roger C. Lucas sold 100 shares of Techne Corp. stock. The stock was sold at an average price of $113.70, for a total value of $11,370.00.
Shares of Techne Corp. (NASDAQ:TECH) opened at 108.34 on Friday. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 38.69 and a beta of 0.63. Techne Corp. has a one year low of $79.95 and a one year high of $117.42. The firm has a 50-day moving average price of $108.29 and a 200 day moving average price of $104.71.
Techne Corp. (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, August 17th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.04. The business had revenue of $134.80 million for the quarter, compared to analyst estimates of $129.23 million. Techne Corp. had a return on equity of 14.49% and a net margin of 20.94%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 earnings per share. Equities analysts forecast that Techne Corp. will post $3.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 29th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, August 25th. Techne Corp.’s payout ratio is currently 45.71%.
Several hedge funds have recently bought and sold shares of TECH. BlackRock Fund Advisors increased its stake in Techne Corp. by 2.5% in the first quarter. BlackRock Fund Advisors now owns 1,769,433 shares of the company’s stock valued at $167,247,000 after buying an additional 43,591 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Techne Corp. by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,108,243 shares of the company’s stock valued at $104,751,000 after buying an additional 27,113 shares during the last quarter. State Street Corp increased its stake in Techne Corp. by 2.0% in the first quarter. State Street Corp now owns 1,008,325 shares of the company’s stock valued at $95,298,000 after buying an additional 19,409 shares during the last quarter. Norges Bank purchased a new stake in Techne Corp. during the fourth quarter valued at $41,127,000. Finally, Wellington Management Group LLP increased its stake in Techne Corp. by 5.8% in the first quarter. Wellington Management Group LLP now owns 355,089 shares of the company’s stock valued at $33,563,000 after buying an additional 19,424 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.
TECH has been the topic of several analyst reports. Zacks Investment Research raised Techne Corp. from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Wednesday, July 13th. Leerink Swann reaffirmed a “hold” rating on shares of Techne Corp. in a report on Sunday, July 10th. Finally, Robert W. Baird raised their target price on Techne Corp. from $115.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $115.40.
About Techne Corp.
Bio-Techne Corporation (Bio-Techne), formerly Techne Corporation, develops, manufactures and sells biotechnology reagents, instruments and clinical diagnostic products around the world. The Company has three business segments: the Biotechnology, Clinical Controls and Protein Platforms divisions. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products around the world.
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