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.
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