Hahn Capital Management LLC Sells 930 Shares of Bio-Techne Corp $TECH

Hahn Capital Management LLC decreased its position in Bio-Techne Corp (NASDAQ:TECH) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,559 shares of the biotechnology company’s stock after selling 930 shares during the period. Bio-Techne makes up approximately 1.6% of Hahn Capital Management LLC’s holdings, making the stock its 25th biggest position. Hahn Capital Management LLC’s holdings in Bio-Techne were worth $3,476,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in Bio-Techne by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,375,279 shares of the biotechnology company’s stock worth $666,933,000 after purchasing an additional 721,012 shares in the last quarter. Select Equity Group L.P. lifted its stake in shares of Bio-Techne by 129.8% in the first quarter. Select Equity Group L.P. now owns 5,366,003 shares of the biotechnology company’s stock worth $314,609,000 after buying an additional 3,030,644 shares in the last quarter. Invesco Ltd. lifted its position in Bio-Techne by 9.7% in the 1st quarter. Invesco Ltd. now owns 4,190,115 shares of the biotechnology company’s stock valued at $245,666,000 after acquiring an additional 369,651 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Bio-Techne by 18.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,025,409 shares of the biotechnology company’s stock valued at $177,380,000 after acquiring an additional 472,847 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its position in Bio-Techne by 1.2% in the 1st quarter. Champlain Investment Partners LLC now owns 2,448,322 shares of the biotechnology company’s stock valued at $143,545,000 after acquiring an additional 28,668 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 $62.09 on Friday. The company has a quick ratio of 2.38, a current ratio of 3.46 and a debt-to-equity ratio of 0.18. Bio-Techne Corp has a twelve month low of $46.01 and a twelve month high of $80.80. The stock has a market capitalization of $9.67 billion, a PE ratio of 134.98, a price-to-earnings-growth ratio of 3.82 and a beta of 1.48. The firm’s 50 day moving average price is $54.05 and its 200-day moving average price is $52.58.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The business had revenue of $316.96 million for the quarter, compared to the consensus estimate of $315.14 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that Bio-Techne Corp will post 1.67 EPS for the current year.

Bio-Techne Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a dividend of $0.08 per share. The ex-dividend date was Monday, August 18th. This represents a $0.32 annualized dividend and a yield of 0.5%. Bio-Techne’s payout ratio is 69.57%.

Analysts Set New Price Targets

TECH has been the topic of a number of research analyst reports. Citigroup raised Bio-Techne from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $70.00 in a report on Thursday, August 21st. Scotiabank lowered their target price on shares of Bio-Techne from $90.00 to $75.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada upgraded shares of Bio-Techne from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, September 3rd. Benchmark restated a “buy” rating and set a $75.00 price objective on shares of Bio-Techne in a research report on Thursday, June 5th. Finally, TD Cowen initiated coverage on shares of Bio-Techne in a research report on Wednesday, July 9th. They set a “buy” rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.42.

About Bio-Techne

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.