242,208 Shares in Bio-Techne Corp $TECH Bought by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in shares of Bio-Techne Corp (NASDAQ:TECH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 242,208 shares of the biotechnology company’s stock, valued at approximately $17,110,000.

A number of other institutional investors also recently bought and sold shares of TECH. BlackRock Inc. bought a new position in shares of Bio-Techne in the 2nd quarter worth approximately $990,924,000. Wellington Management Group LLP grew its position in Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after buying an additional 3,978,026 shares during the period. Ruane Cunniff & Goldfarb L.P. increased its holdings in Bio-Techne by 131.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock valued at $177,266,000 after buying an additional 1,926,066 shares during the last quarter. Norges Bank purchased a new stake in Bio-Techne during the fourth quarter valued at approximately $99,494,000. Finally, Durable Capital Partners LP bought a new position in Bio-Techne in the third quarter worth approximately $77,658,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Trading Up 0.1%

Shares of Bio-Techne stock opened at $72.47 on Friday. The company has a market capitalization of $11.36 billion, a P/E ratio of 63.02, a P/E/G ratio of 8.62 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The company has a fifty day moving average of $70.57 and a 200 day moving average of $59.67. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.62.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The business had revenue of $321.19 million for the quarter, compared to analysts’ expectations of $314.63 million. During the same period last year, the firm earned $0.53 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bio-Techne Corp will post 1.76 earnings per share for the current fiscal year.

Bio-Techne Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be given a dividend of $0.65 per share. This is an increase from Bio-Techne’s previous quarterly dividend of $0.08. This represents a $2.60 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, August 24th. Bio-Techne’s dividend payout ratio (DPR) is 27.83%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TECH shares. Evercore cut shares of Bio-Techne from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Royal Bank Of Canada lowered Bio-Techne from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. Weiss Ratings raised Bio-Techne from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a report on Friday, June 26th. Finally, William Blair cut Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Bio-Techne has an average rating of “Hold” and a consensus price target of $68.92.

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.