Kim Kelderman Sells 13,392 Shares of Bio-Techne Co. (NASDAQ:TECH) Stock

Bio-Techne Co. (NASDAQ:TECH) CEO Kim Kelderman sold 13,392 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total value 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. The trade was 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 at this link.

Bio-Techne Trading Up 1.3 %

Shares of Bio-Techne stock opened at $72.76 on Friday. Bio-Techne Co. has a 1-year low of $61.16 and a 1-year high of $85.57. The company’s fifty day simple moving average is $74.67 and its 200-day simple moving average is $74.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.56 and a quick ratio of 3.26. The stock has a market capitalization of $11.56 billion, a PE ratio of 77.41, a P/E/G ratio of 5.80 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its earnings results 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. The company had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Bio-Techne’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. As a group, equities analysts anticipate that Bio-Techne Co. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

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

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.