Techne Corp. Reaches New 12-Month High at $86.80 (TECH)
Techne Corp. (NASDAQ:TECH)’s share price reached a new 52-week high during mid-day trading on Thursday, StockRatingsNetwork.com reports. The stock traded as high as $86.80 and last traded at $86.64, with a volume of 423,175 shares traded. The stock had previously closed at $82.39.
TECH has been the subject of a number of recent research reports. Analysts at Robert W. Baird upgraded shares of Techne Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, September 20th. They now have a $90.00 price target on the stock, up previously from $76.00. They noted that the move was a valuation call. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of Techne Corp. in a research note to investors on Thursday, August 15th. They set a “neutral” rating on the stock. Finally, analysts at Craig Hallum upgraded shares of Techne Corp. from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 7th. They now have a $85.00 price target on the stock, up previously from $75.00. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.67.
Techne Corp. has a 1-year low of $62.55 and a 1-year high of $83.83. The stock’s 50-day moving average is $78.90 and its 200-day moving average is $71.93. The company has a market cap of $3.215 billion and a price-to-earnings ratio of 27.01.
Techne Corp. (NASDAQ:TECH) last announced its earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.83 by $0.01. The company had revenue of $79.50 million for the quarter, compared to the consensus estimate of $79.71 million. During the same quarter last year, the company posted $0.80 earnings per share. Techne Corp.’s revenue was up 1.0% compared to the same quarter last year. Analysts expect that Techne Corp. will post $3.39 EPS for the current fiscal year.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
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