Techne Corp. Receives New Coverage from Analysts at Stephens (TECH)
Analysts at Stephens assumed coverage on shares of Techne Corp. (NASDAQ:TECH) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
In other Techne Corp. news, Director Karen A. Holbrook unloaded 5,000 shares of Techne Corp. stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $95.54, for a total transaction of $477,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Techne Corp. (NASDAQ:TECH) opened at 95.64 on Friday. Techne Corp. has a 52-week low of $75.21 and a 52-week high of $97.15. The stock has a 50-day moving average of $93.06 and a 200-day moving average of $89.53. The company has a market cap of $3.537 billion and a P/E ratio of 31.88.
Techne Corp. (NASDAQ:TECH) last issued its quarterly earnings data on Monday, August 11th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.82 earnings per share. Techne Corp.’s revenue was up 16.4% compared to the same quarter last year. 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 1.30%. 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, August 12th. They now have a $101.00 price target on the stock, up previously from $93.00. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Techne Corp. currently has a consensus rating of “Buy” and an average price target of $94.67.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
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