Hsbc Holdings PLC Has $20.89 Million Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Hsbc Holdings PLC lowered its position in Bio-Techne Co. (NASDAQ:TECH) by 8.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 291,806 shares of the biotechnology company’s stock after selling 25,264 shares during the period. Hsbc Holdings PLC owned 0.19% of Bio-Techne worth $20,888,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Bio-Techne by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 734,105 shares of the biotechnology company’s stock valued at $56,646,000 after purchasing an additional 118,534 shares during the period. Sei Investments Co. increased its position in shares of Bio-Techne by 16.2% during the fourth quarter. Sei Investments Co. now owns 856,514 shares of the biotechnology company’s stock worth $66,089,000 after acquiring an additional 119,295 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Bio-Techne by 9.7% in the 4th quarter. TD Asset Management Inc now owns 135,632 shares of the biotechnology company’s stock worth $10,465,000 after acquiring an additional 11,947 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Bio-Techne by 152.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 32,378 shares of the biotechnology company’s stock valued at $2,498,000 after acquiring an additional 19,530 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in Bio-Techne by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 13,739 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 11,667 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Price Performance

TECH opened at $78.30 on Friday. Bio-Techne Co. has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The firm has a 50-day moving average of $75.25 and a 200 day moving average of $73.99. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87. The firm has a market cap of $12.34 billion, a P/E ratio of 62.14, a PEG ratio of 5.06 and a beta of 1.27.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million during the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. On average, research analysts expect that Bio-Techne Co. will post 1.71 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, August 19th. Bio-Techne’s dividend payout ratio is currently 25.40%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Robert W. Baird increased their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Royal Bank of Canada cut their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bio-Techne currently has an average rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.