Bio-Techne Co. (NASDAQ:TECH) CEO Kim Kelderman Sells 13,392 Shares of 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 transaction, the chief executive officer now directly owns 39,004 shares in the company, valued at approximately $3,014,619.16. This trade represents a 25.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bio-Techne Price Performance

TECH stock opened at $71.83 on Thursday. The stock’s 50 day moving average is $74.64 and its two-hundred day moving average is $74.51. Bio-Techne Co. has a 52-week low of $61.16 and a 52-week high of $85.57. The company has a market capitalization of $11.41 billion, a PE ratio of 76.42, a P/E/G ratio of 5.80 and a beta of 1.27. The company has a quick ratio of 3.26, a current ratio of 4.56 and a debt-to-equity ratio of 0.14.

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

Institutional Investors Weigh In On Bio-Techne

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

Analysts Set New Price Targets

TECH has been the topic of a number of research reports. Scotiabank raised their target price 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. Robert W. Baird boosted their price objective on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Bio-Techne Company Profile

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.