Bio-Techne Co. (NASDAQ:TECH) CEO Sells $1,035,067.68 in Stock

Bio-Techne Co. (NASDAQ:TECH) CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. The trade was a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Bio-Techne Price Performance

NASDAQ:TECH traded down $2.77 on Wednesday, hitting $71.83. The company had a trading volume of 1,373,345 shares, compared to its average volume of 962,558. Bio-Techne Co. has a 52 week low of $61.16 and a 52 week high of $85.57. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 76.42, a PEG ratio of 5.80 and a beta of 1.27. The firm has a 50 day moving average of $74.58 and a two-hundred day moving average of $74.53.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. During the same quarter last year, the business posted $0.35 EPS. Bio-Techne’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird lifted their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Scotiabank lifted their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and a consensus target price of $82.00.

Institutional Trading of Bio-Techne

A number of hedge funds have recently made changes to their positions in TECH. Brooklyn Investment Group bought a new position in Bio-Techne in the 3rd quarter valued at approximately $39,000. UMB Bank n.a. raised its stake in shares of Bio-Techne by 46.4% during the fourth quarter. UMB Bank n.a. now owns 530 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 168 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Bio-Techne during the third quarter worth $43,000. Mather Group LLC. grew its stake in shares of Bio-Techne by 51.5% in the third quarter. Mather Group LLC. now owns 612 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 208 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Bio-Techne by 60.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

About Bio-Techne

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.