Charles R. Kummeth Sells 5,104 Shares of Bio-Techne Co. (NASDAQ:TECH) Stock
Bio-Techne Co. (NASDAQ:TECH – Get Rating) CEO Charles R. Kummeth sold 5,104 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $365.00, for a total value of $1,862,960.00. Following the sale, the chief executive officer now owns 198,338 shares of the company’s stock, valued at $72,393,370. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Bio-Techne stock traded down $9.01 during trading on Thursday, hitting $355.44. 190,519 shares of the stock traded hands, compared to its average volume of 260,438. The stock has a market cap of $13.95 billion, a P/E ratio of 66.07, a PEG ratio of 1.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.79 and a current ratio of 3.56. Bio-Techne Co. has a twelve month low of $335.02 and a twelve month high of $543.85. The company has a fifty day moving average price of $388.17 and a two-hundred day moving average price of $417.88.
Bio-Techne (NASDAQ:TECH – Get Rating) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.21. Bio-Techne had a return on equity of 16.82% and a net margin of 20.95%. The firm had revenue of $290.40 million during the quarter, compared to analyst estimates of $279.27 million. During the same period in the previous year, the company earned $1.61 EPS. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Bio-Techne Co. will post 7.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Monday, May 16th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $1.28 annualized dividend and a yield of 0.36%. Bio-Techne’s dividend payout ratio (DPR) is currently 23.36%.
TECH has been the subject of a number of research reports. Wells Fargo & Company lowered Bio-Techne from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $400.00 to $370.00 in a research report on Monday, April 25th. Robert W. Baird decreased their price objective on Bio-Techne from $520.00 to $500.00 in a research report on Thursday, May 5th. StockNews.com initiated coverage on Bio-Techne in a research report on Thursday, March 31st. They set a “buy” rating for the company. KeyCorp reduced their price target on Bio-Techne from $600.00 to $500.00 in a report on Thursday, May 5th. Finally, Zacks Investment Research lowered Bio-Techne from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne has an average rating of “Buy” and an average target price of $488.43.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Bio-Techne by 20.8% in the 4th quarter. IFP Advisors Inc now owns 157 shares of the biotechnology company’s stock worth $83,000 after buying an additional 27 shares during the period. Pendal Group Ltd increased its position in Bio-Techne by 1.9% in the 4th quarter. Pendal Group Ltd now owns 1,471 shares of the biotechnology company’s stock worth $761,000 after buying an additional 28 shares during the period. BOK Financial Private Wealth Inc. increased its position in Bio-Techne by 3.4% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 893 shares of the biotechnology company’s stock worth $462,000 after buying an additional 29 shares during the period. Ascent Group LLC increased its position in Bio-Techne by 4.5% in the 1st quarter. Ascent Group LLC now owns 667 shares of the biotechnology company’s stock worth $289,000 after buying an additional 29 shares during the period. Finally, Foundry Partners LLC increased its position in Bio-Techne by 2.7% in the 4th quarter. Foundry Partners LLC now owns 1,145 shares of the biotechnology company’s stock worth $592,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 94.36% of the company’s stock.
About Bio-Techne (Get Rating)
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.
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