Bio-Techne (NASDAQ:TECH) Stock Price Down 2%

Bio-Techne Co. (NASDAQ:TECH)’s stock price fell 2% during trading on Monday . The company traded as low as $77.54 and last traded at $78.57. 184,823 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 979,527 shares. The stock had previously closed at $80.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $120.00 price target on shares of Bio-Techne in a report on Friday, August 18th. Robert W. Baird cut their price objective on shares of Bio-Techne from $100.00 to $90.00 in a research report on Wednesday, August 9th. Stephens restated an “overweight” rating and issued a $100.00 target price on shares of Bio-Techne in a report on Wednesday, August 9th. William Blair initiated coverage on shares of Bio-Techne in a research note on Monday. They set an “outperform” rating for the company. Finally, StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.78.

Bio-Techne Stock Up 2.6 %

The business has a fifty day moving average of $81.72 and a 200-day moving average of $79.44. The stock has a market cap of $12.70 billion, a PE ratio of 45.55, a price-to-earnings-growth ratio of 4.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.84 and a quick ratio of 3.50.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. The firm had revenue of $301.32 million for the quarter, compared to the consensus estimate of $304.71 million. Bio-Techne had a net margin of 25.10% and a return on equity of 15.47%. Equities research analysts anticipate that Bio-Techne Co. will post 1.81 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Thursday, August 17th. Bio-Techne’s dividend payout ratio is currently 18.16%.

Insider Transactions at Bio-Techne

In other Bio-Techne news, CEO Charles R. Kummeth sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $88.36, for a total value of $7,068,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,258,766 shares in the company, valued at $111,224,563.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.45% of the company’s stock.

Institutional Investors Weigh In On Bio-Techne

Several institutional investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC acquired a new position in shares of Bio-Techne in the 1st quarter valued at $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Bio-Techne in the second quarter valued at about $27,000. Harbour Investments Inc. lifted its holdings in shares of Bio-Techne by 305.0% during the fourth quarter. Harbour Investments Inc. now owns 324 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 244 shares during the period. Huntington National Bank lifted its holdings in shares of Bio-Techne by 124.7% during the second quarter. Huntington National Bank now owns 337 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 187 shares during the period. Finally, Resurgent Financial Advisors LLC purchased a new stake in Bio-Techne in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 94.64% of the company’s stock.

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 worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.