Insider Selling: Techne Corp. Director Sells 5,000 Shares of Stock (TECH)
Techne Corp. (NASDAQ:TECH) Director Karen A. Holbrook sold 5,000 shares of Techne Corp. stock on the open market in a transaction dated Thursday, August 14th. The shares were sold at an average price of $95.54, for a total transaction of $477,700.00. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $95,540. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Techne Corp. (NASDAQ:TECH) traded down 0.52% during mid-day trading on Friday, hitting $96.19. 184,348 shares of the company’s stock traded hands. Techne Corp. has a one year low of $73.96 and a one year high of $96.96. The stock’s 50-day moving average is $92.60 and its 200-day moving average is $89.34. The company has a market cap of $3.558 billion and a price-to-earnings ratio of 32.23.
Techne Corp. (NASDAQ:TECH) last released its earnings data on Monday, August 11th. The company reported $0.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.03. The company had revenue of $92.50 million for the quarter, compared to the consensus estimate of $91.80 million. During the same quarter in the prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, analysts predict that Techne Corp. will post $3.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Thursday, August 21st will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, August 19th.
Separately, analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Techne Corp. in a research note on Tuesday. They now have a $101.00 price target on the stock, up previously from $93.00.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
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