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Biotech / Medical : TECHNE (Tech): "selling picks to gold miners"
TECH 50.52-2.0%Jun 13 9:30 AM EDT
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From: Lance Bredvold5/1/2024 12:02:42 PM
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Earnings report today was not real thrilling to me though the stock price rose 20% this morning. So I really don't understand the potential of this company and probably should not even own it because of that. I bought because I emphasize Minnesota companies (and upper midwest) where I feel I understand the culture of people. But when the CEO/CFO come in from elsewhere, that heuristic should be irrelevant and the usual tendency I think, is for them to take advantage of the relatively laid back pronouncements by local leaders and suddenly overpromise for a sudden jump in stock price. They do have a new CEO and I'm not sure where he came from--many others seem to have come from Fisher Scientific on the east coast including the past CEO I believe.

Why the PE is over 50 today puzzles me. Past earnings growth has not been impressive--I record growth of 6% plus about 1% dividend. They acquire other small companies regularly and maybe the regular promise of improved earnings or synergy is enough to jack up the price but the results have not been impressive. Still, I sold near the high and have repurchased shares after the 4 for 1 stock split of 2023 just speculating a return to PE even higher. A little nutty I think.
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