Hsbc Holdings PLC purchased a new stake in shares of BIO-TECHNE Corp (NASDAQ:TECH) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,360 shares of the biotechnology company’s stock, valued at approximately $481,000.
Several other institutional investors also recently bought and sold shares of TECH. Bruderman Asset Management LLC acquired a new position in shares of BIO-TECHNE in the second quarter worth about $113,000. Fort L.P. acquired a new position in shares of BIO-TECHNE in the second quarter worth about $115,000. Robecosam AG purchased a new stake in shares of BIO-TECHNE during the second quarter worth about $144,000. Meeder Asset Management Inc. increased its stake in shares of BIO-TECHNE by 220.3% during the third quarter. Meeder Asset Management Inc. now owns 711 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 489 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of BIO-TECHNE during the third quarter worth about $192,000. 93.59% of the stock is owned by hedge funds and other institutional investors.
BIO-TECHNE stock traded up $4.08 during mid-day trading on Friday, reaching $157.77. 303,326 shares of the company’s stock were exchanged, compared to its average volume of 321,041. BIO-TECHNE Corp has a twelve month low of $128.06 and a twelve month high of $206.04. The company has a quick ratio of 3.50, a current ratio of 4.59 and a debt-to-equity ratio of 0.49. The firm has a market cap of $5.63 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 30th. The biotechnology company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. BIO-TECHNE had a net margin of 19.19% and a return on equity of 14.09%. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $162.34 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that BIO-TECHNE Corp will post 3.79 earnings per share for the current fiscal year.
TECH has been the subject of a number of research reports. BidaskClub cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 4th. Argus upped their price objective on shares of BIO-TECHNE from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. ValuEngine cut shares of BIO-TECHNE from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 11th. Zacks Investment Research raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. Finally, Goldman Sachs Group set a $165.00 price target on shares of BIO-TECHNE and gave the company a “hold” rating in a research note on Friday, November 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. BIO-TECHNE currently has a consensus rating of “Hold” and an average price target of $181.00.
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BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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