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 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 sale, the chief executive officer now directly owns 39,004 shares of the company’s stock, valued at approximately $3,014,619.16. This represents a 25.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Bio-Techne Trading Up 1.1 %

NASDAQ:TECH opened at $73.55 on Friday. The stock has a market cap of $11.69 billion, a PE ratio of 78.25, a price-to-earnings-growth ratio of 5.30 and a beta of 1.27. Bio-Techne Co. has a fifty-two week low of $61.16 and a fifty-two week high of $85.57. 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’s 50-day moving average is $74.72 and its two-hundred day moving average is $74.48.

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. The firm had revenue of $289.46 million for the quarter, compared to analyst estimates of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. As a group, equities research analysts forecast that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Bio-Techne

A number of hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Bio-Techne in the third quarter valued at about $39,000. UMB Bank n.a. grew its stake 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 valued at $38,000 after buying an additional 168 shares in the last quarter. Quest Partners LLC acquired a new position in Bio-Techne in the third quarter worth approximately $43,000. Mather Group LLC. raised its position in Bio-Techne by 51.5% during 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. Finally, MassMutual Private Wealth & Trust FSB grew its position in Bio-Techne by 60.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 672 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 253 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

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.