Hsbc Holdings PLC Sells 23,634 Shares of Bio-Techne Corp $TECH

Hsbc Holdings PLC cut its stake in Bio-Techne Corp (NASDAQ:TECH) by 11.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,867 shares of the biotechnology company’s stock after selling 23,634 shares during the quarter. Hsbc Holdings PLC owned 0.12% of Bio-Techne worth $10,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of TECH. MidFirst Bank bought a new stake in Bio-Techne during the fourth quarter worth $223,000. Alberta Investment Management Corp bought a new position in Bio-Techne during the 4th quarter valued at $1,300,000. Wellington Management Group LLP boosted its holdings in Bio-Techne by 12.1% during the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company’s stock worth $337,219,000 after acquiring an additional 618,916 shares during the last quarter. Alpine Peaks Capital LP boosted its holdings in Bio-Techne by 43.1% during the 4th quarter. Alpine Peaks Capital LP now owns 51,500 shares of the biotechnology company’s stock worth $3,029,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Bio-Techne by 20.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 118,799 shares of the biotechnology company’s stock worth $6,987,000 after acquiring an additional 20,423 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $70.70 on Friday. The company has a market capitalization of $11.07 billion, a P/E ratio of 102.47, a price-to-earnings-growth ratio of 5.67 and a beta of 1.37. The company’s 50-day moving average is $52.70 and its 200 day moving average is $56.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne Corp has a fifty-two week low of $43.19 and a fifty-two week high of $72.16.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company had revenue of $311.42 million for the quarter, compared to analysts’ expectations of $316.11 million. During the same quarter last year, the business posted $0.56 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that Bio-Techne Corp will post 1.66 earnings per share for the current year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s dividend payout ratio is presently 46.38%.

Key Headlines Impacting Bio-Techne

Here are the key news stories impacting Bio-Techne this week:

• Positive Sentiment: Merck KGaA agreed to buy Bio-Techne for $73 per share in cash, giving shareholders a clear exit value and likely driving the stock toward the deal price. Merck KGaA, Darmstadt, Germany, Agrees to Acquire Bio-Techne
• Positive Sentiment: The offer represents a sizable premium to Bio-Techne’s recent share price, which typically boosts takeover-target stocks as investors price in deal completion. Germany’s Merck to buy Bio-Techne for $73 per share
• Neutral Sentiment: Multiple law firms announced shareholder investigations into whether Bio-Techne’s board secured a fair price, which could create legal noise but does not change the announced deal terms. Shareholder Alert: Ademi LLP investigates whether Bio-Techne Corporation is obtaining a Fair Price for Public Shareholders
• Neutral Sentiment: Reported short-interest data showed no meaningful short position, so the move appears driven more by the takeover announcement than by short covering. Bio-Techne Surges on $73-Per-Share Cash Takeover Agreement

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TECH. Citigroup lowered their target price on shares of Bio-Techne from $80.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 7th. William Blair downgraded shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday. Evercore set a $50.00 price objective on shares of Bio-Techne in a research note on Thursday, May 7th. Royal Bank Of Canada set a $62.00 target price on shares of Bio-Techne and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Piper Sandler initiated coverage on Bio-Techne in a research note on Thursday, June 11th. They issued a “neutral” rating and a $65.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bio-Techne has an average rating of “Moderate Buy” and an average price target of $65.71.

About Bio-Techne

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.