In a recent move that caught the attention of market watchers, John L. Higgins, a director of BIO-TECHNE Corp (NASDAQ:TECH), sold shares in the company. The transaction, which took place on May 14, involved the sale of 4,000 shares of common stock at a weighted average price ranging from $83.55 to $83.94, resulting in a total value of approximately $335,377.
The sale was part of a series of transactions disclosed in a Form 4 filing with the Securities and Exchange Commission. On the same day, Higgins also acquired 4,000 shares of BIO-TECHNE Corp common stock at a price of $22.95 per share, amounting to a total transaction value of $91,800.
The transactions have adjusted Higgins' holdings in the company, with the post-sale disclosure indicating that he now owns 36,608 shares of BIO-TECHNE Corp common stock.
Investors and analysts often scrutinize insider transactions as they can provide insights into the executives' confidence in the company's prospects. BIO-TECHNE Corp, known for its work in the biological products space, has not publicly commented on these transactions.
The Form 4 filing also included details of derivative securities, specifically stock options (Right to Buy), which are not directly related to the buy and sell transactions of common stock and thus not the focus of the current financial news.
For those interested in the specifics of the reported transactions, the filing is publicly available and provides detailed information, including footnotes that offer additional context to the prices and volumes of shares traded.
As of now, BIO-TECHNE Corp and John L. Higgins have not issued any further comments regarding the matter. Investors and shareholders of BIO-TECHNE Corp will undoubtedly follow any future transactions by company insiders with keen interest.
InvestingPro Insights
Following the recent insider trading activity within BIO-TECHNE Corp (NASDAQ:TECH), investors may be seeking additional context to better understand the company's financial health and market position. Here are some key insights from InvestingPro that could help in interpreting the significance of these transactions:
BIO-TECHNE Corp's market capitalization stands at $13.05 billion, indicating a substantial presence in the biological products space. The company's P/E ratio is currently high at 64.53, which suggests that the market has high expectations for future earnings growth, despite the fact that some analysts have revised their earnings estimates downwards for the upcoming period, as indicated by one of the InvestingPro Tips. This could imply that the market is pricing in optimistic growth prospects, which might be a point of consideration for investors.
The company's solid gross profit margin at 67.01% for the last twelve months as of Q3 2024 reflects a strong ability to control costs relative to its revenue. Additionally, a noteworthy InvestingPro Tip is that BIO-TECHNE Corp has maintained dividend payments for 17 consecutive years, which may appeal to income-focused investors. The dividend yield is currently at 0.38%, with the most recent ex-date being May 10, 2024.
Investors looking to gain a more comprehensive understanding of BIO-TECHNE Corp's valuation and future outlook might find the additional tips on InvestingPro valuable. There are more tips available, and using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. Visit https://www.investing.com/pro/TECH to explore these insights.
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