Bio-Techne Corp $TECH Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Bio-Techne Corp (NASDAQ:TECH) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,037 shares of the biotechnology company’s stock after acquiring an additional 12,170 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Bio-Techne worth $10,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Bio-Techne by 15.3% in the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company’s stock worth $490,794,000 after purchasing an additional 1,107,536 shares during the period. State Street Corp raised its holdings in Bio-Techne by 1.0% in the fourth quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company’s stock valued at $341,806,000 after buying an additional 58,639 shares during the period. Wellington Management Group LLP lifted its position in Bio-Techne by 12.1% during the fourth quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock valued at $337,219,000 after buying an additional 618,916 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Bio-Techne by 21.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company’s stock valued at $239,663,000 after buying an additional 725,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Bio-Techne by 164.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock worth $235,994,000 after buying an additional 2,495,328 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TECH shares. Leerink Partners set a $73.00 price objective on shares of Bio-Techne in a research report on Thursday, June 25th. Wells Fargo & Company decreased their price target on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a research report on Thursday, May 7th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. Finally, TD Cowen lowered Bio-Techne from a “buy” rating to a “hold” rating and increased their target price for the company from $65.00 to $73.00 in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.08.

Bio-Techne Stock Performance

Shares of TECH stock opened at $71.78 on Thursday. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The firm has a market capitalization of $11.24 billion, a P/E ratio of 104.03, a P/E/G ratio of 8.53 and a beta of 1.29. The company’s fifty day moving average price is $59.38 and its two-hundred day moving average price is $58.65.

Bio-Techne (NASDAQ:TECH) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, May 18th. Bio-Techne’s dividend payout ratio (DPR) is 46.38%.

Bio-Techne Company Profile

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.