Bio-Techne Corp $TECH Shares Sold by Hahn Capital Management LLC

Hahn Capital Management LLC lessened its holdings in shares of Bio-Techne Corp (NASDAQ:TECH) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,232 shares of the biotechnology company’s stock after selling 7,810 shares during the period. Bio-Techne accounts for approximately 1.7% of Hahn Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Hahn Capital Management LLC’s holdings in Bio-Techne were worth $2,730,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Danske Bank A S purchased a new position in Bio-Techne in the 4th quarter worth approximately $29,000. eCIO Inc. purchased a new stake in shares of Bio-Techne in the fourth quarter valued at approximately $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Bio-Techne in the third quarter valued at approximately $32,000. iSAM Funds UK Ltd acquired a new stake in shares of Bio-Techne in the third quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Bio-Techne by 506.3% in the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 562 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TECH. Royal Bank Of Canada lowered Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted 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 “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Leerink Partners set a $73.00 target price on Bio-Techne in a research note on Thursday, June 25th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $70.00 to $73.00 in a report on Friday, June 26th. Finally, Benchmark cut shares of Bio-Techne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne has an average rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Price Performance

Shares of NASDAQ TECH opened at $72.12 on Monday. The company has a market capitalization of $11.29 billion, a P/E ratio of 104.52, a P/E/G ratio of 8.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The company has a 50 day simple moving average of $57.87 and a 200-day simple moving average of $58.38. Bio-Techne Corp has a 1 year low of $43.19 and a 1 year high of $72.16.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to analyst estimates of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, equities research analysts predict that Bio-Techne Corp will post 1.65 earnings per share for the current year.

Bio-Techne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.08 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Bio-Techne’s payout ratio is currently 46.38%.

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.