Insider Selling: Bio-Techne Corp (TECH) Director Sells 5,000 Shares of Stock
Bio-Techne Corp (NASDAQ:TECH) Director Robert V. Baumgartner sold 5,000 shares of Bio-Techne Corp stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $130.18, for a total value of $650,900.00. Following the sale, the director now owns 12,712 shares of the company’s stock, valued at approximately $1,654,848.16. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Bio-Techne Corp (TECH) traded up $0.89 during trading on Friday, reaching $129.29. The company had a trading volume of 96,421 shares, compared to its average volume of 147,440. The stock has a market cap of $4,786.33, a PE ratio of 36.89 and a beta of 0.74.
Bio-Techne Corp (NASDAQ:TECH) last posted its quarterly earnings data on Tuesday, October 31st. The biotechnology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. The firm had revenue of $144.61 million during the quarter, compared to analysts’ expectations of $142.37 million. Bio-Techne Corp had a return on equity of 14.11% and a net margin of 12.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 EPS. equities research analysts expect that Bio-Techne Corp will post 3.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Friday, November 10th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.99%. The ex-dividend date is Thursday, November 9th. Bio-Techne Corp’s dividend payout ratio (DPR) is 66.32%.
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A number of analysts recently commented on TECH shares. Deutsche Bank AG lifted their price objective on Bio-Techne Corp from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research report on Wednesday, October 11th. BidaskClub upgraded Bio-Techne Corp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Citigroup Inc. reiterated a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of Bio-Techne Corp in a research report on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on Bio-Techne Corp in a research report on Thursday, July 13th. They set a “market perform” rating for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $129.50.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Bio-Techne Corp by 1.7% in the 2nd quarter. BlackRock Inc. now owns 3,561,574 shares of the biotechnology company’s stock valued at $418,485,000 after buying an additional 61,138 shares during the period. Vanguard Group Inc. grew its holdings in Bio-Techne Corp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,042,458 shares of the biotechnology company’s stock valued at $357,489,000 after buying an additional 36,768 shares during the period. Atlanta Capital Management Co. L L C grew its holdings in Bio-Techne Corp by 0.7% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,960,895 shares of the biotechnology company’s stock valued at $230,405,000 after buying an additional 14,291 shares during the period. Janus Henderson Group PLC grew its holdings in Bio-Techne Corp by 334.3% in the 2nd quarter. Janus Henderson Group PLC now owns 1,188,108 shares of the biotechnology company’s stock valued at $139,603,000 after buying an additional 914,554 shares during the period. Finally, State Street Corp grew its holdings in Bio-Techne Corp by 0.5% in the 2nd quarter. State Street Corp now owns 994,739 shares of the biotechnology company’s stock valued at $116,891,000 after buying an additional 5,078 shares during the period. Institutional investors own 98.70% of the company’s stock.
About Bio-Techne Corp
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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