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

Hsbc Holdings PLC grew its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,037 shares of the biotechnology company’s stock after acquiring an additional 12,170 shares during the period. Hsbc Holdings PLC’s holdings in Bio-Techne were worth $10,189,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TECH. Impax Asset Management Group plc bought a new position in shares of Bio-Techne during the fourth quarter worth about $11,468,000. Border to Coast Pensions Partnership Ltd bought a new stake in Bio-Techne in the fourth quarter valued at about $15,023,000. Comerica Bank lifted its holdings in Bio-Techne by 56.4% during the 4th quarter. Comerica Bank now owns 105,481 shares of the biotechnology company’s stock worth $6,203,000 after buying an additional 38,031 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Bio-Techne by 316.7% during the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after buying an additional 534,676 shares during the last quarter. Finally, Nicholas Company Inc. grew its position in shares of Bio-Techne by 6.5% in the 4th quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock worth $22,983,000 after acquiring an additional 23,785 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. William Blair downgraded shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a report on Thursday, June 25th. Robert W. Baird boosted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Piper Sandler initiated coverage on shares of Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, TD Cowen downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $73.00 in a research report 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Stock Up 0.2%

Shares of Bio-Techne stock opened at $71.78 on Thursday. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 104.03, a PEG ratio of 8.53 and a beta of 1.29. Bio-Techne Corp has a twelve month low of $43.19 and a twelve month high of $72.16. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $59.38 and its 200-day simple moving average is $58.65.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.Bio-Techne’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. Equities research analysts forecast that Bio-Techne Corp will post 1.65 earnings per share for the current year.

Bio-Techne Announces Dividend

The company also recently announced 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 of this dividend was Monday, May 18th. Bio-Techne’s payout ratio is presently 46.38%.

Bio-Techne 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.