Insider Selling: Bio-Techne Co. (NASDAQ:TECH) CEO Sells 13,392 Shares of Stock

Bio-Techne Co. (NASDAQ:TECH) CEO Kim Kelderman sold 13,392 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $77.29, for a total value of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares in the company, valued at $3,014,619.16. This represents 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 the SEC website.

Bio-Techne Trading Up 1.3 %

TECH stock opened at $72.76 on Friday. The firm’s fifty day simple moving average is $74.67 and its two-hundred day simple moving average is $74.50. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 77.41, a price-to-earnings-growth 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 Co. has a twelve month low of $61.16 and a twelve month high of $85.57.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Bio-Techne

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Bio-Techne by 1.5% during the 3rd quarter. State Street Corp now owns 6,395,993 shares of the biotechnology company’s stock valued at $511,232,000 after acquiring an additional 95,133 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Bio-Techne by 21.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,040,840 shares of the biotechnology company’s stock valued at $147,002,000 after purchasing an additional 354,478 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Bio-Techne in the third quarter worth about $89,724,000. American Capital Management Inc. increased its stake in Bio-Techne by 2.5% in the 3rd quarter. American Capital Management Inc. now owns 1,114,393 shares of the biotechnology company’s stock worth $89,073,000 after buying an additional 27,508 shares during the period. Finally, Geneva Capital Management LLC lifted its holdings in Bio-Techne by 1.6% during the 3rd quarter. Geneva Capital Management LLC now owns 1,104,310 shares of the biotechnology company’s stock valued at $88,267,000 after buying an additional 17,114 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

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.