Techne Corp. Hits New 12-Month High at $97.15 (TECH)
Techne Corp. (NASDAQ:TECH) hit a new 52-week high on Tuesday , AmericanBankingNews.com reports. The company traded as high as $97.15 and last traded at $95.95, with a volume of 69,420 shares changing hands. The stock had previously closed at $95.52.
A number of analysts have recently weighed in on TECH shares. Analysts at Stephens initiated coverage on shares of Techne Corp. in a research note on Friday, August 22nd. They set an “overweight” rating on the stock. 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $94.67.
The stock has a 50-day moving average of $93.63 and a 200-day moving average of $89.93. The company has a market cap of $3.560 billion and a P/E ratio of 31.84.
Techne Corp. (NASDAQ:TECH) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts expect that Techne Corp. will post $3.65 EPS for the current fiscal year.
TECHNE Corporation is engaged in the development, manufacture and sale of biotechnology products and hematology calibrators and controls.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.