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Biotech / Medical : TECHNE (Tech): "selling picks to gold miners"
TECH 77.31+1.2%Jul 12 4:00 PM EDT

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From: Lance Bredvold8/4/2022 10:10:22 AM
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Good results today showing $6.63 EPS GAAP for the year and $7.89 adjusted. I note that their investment in CCXI added $.16 to GAAP results and subtracted $68mm in 2021. That means that CCXI accounted for about $2 worth of the increase in GAAP from last year to this year.

But then also announced today is that Amgen will buy CCXI for $3.7 B and the stock price there doubled from $25 to $50 in the first minutes of trading. Since the price was somewhere around $25 at 6/30/22 TECH should see a one time gain of about $5 next quarter and next year.

I bought back my written TECH call at strike of $420 for a nice profit and then gave the shares to my favorite charity at $370 or so. I still have calls sold at $400 strike but can't afford for the shares to be sold taxwise. And even with a probable $13 EPS next year, at today's price of $390 or so, they sport a PE of 30. Much more realistic I think but not ready to buy more yet.
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