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

Hahn Capital Management LLC reduced its stake in shares of Bio-Techne Corp (NASDAQ:TECH) by 13.0% in the 1st quarter, according to the company in its most recent disclosure 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 quarter. Bio-Techne accounts for 1.7% of Hahn Capital Management LLC’s holdings, making the stock its 25th largest position. Hahn Capital Management LLC’s holdings in Bio-Techne were worth $2,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of TECH. Impax Asset Management Group plc purchased a new stake in Bio-Techne during the fourth quarter worth $11,468,000. Border to Coast Pensions Partnership Ltd purchased a new position in Bio-Techne in the fourth quarter valued at $15,023,000. Comerica Bank raised its position in shares of Bio-Techne by 56.4% in the fourth quarter. Comerica Bank now owns 105,481 shares of the biotechnology company’s stock worth $6,203,000 after acquiring an additional 38,031 shares during the period. Nicholas Company Inc. boosted its stake in shares of Bio-Techne by 6.5% during the 4th quarter. Nicholas Company Inc. now owns 390,794 shares of the biotechnology company’s stock worth $22,983,000 after acquiring an additional 23,785 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Bio-Techne by 316.7% during the 4th quarter. Principal Financial Group Inc. now owns 703,477 shares of the biotechnology company’s stock worth $41,373,000 after acquiring an additional 534,676 shares in the last quarter. 98.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on TECH. Deutsche Bank Aktiengesellschaft lowered Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 price target for the company. in a research note on Friday, June 26th. Piper Sandler initiated coverage on Bio-Techne in a research report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price target on the stock. TD Cowen lowered Bio-Techne from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $73.00 in a report on Monday, June 29th. Royal Bank Of Canada cut Bio-Techne from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $62.00 to $73.00 in a research report on Thursday, July 9th. Finally, Benchmark downgraded Bio-Techne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Bio-Techne has a consensus rating of “Hold” and a consensus price target of $68.08.

Bio-Techne Price Performance

NASDAQ:TECH opened at $72.12 on Monday. The stock has a 50 day moving average of $57.87 and a two-hundred day moving average of $58.38. Bio-Techne Corp has a 12 month low of $43.19 and a 12 month high of $72.16. The firm has a market cap of $11.29 billion, a P/E ratio of 104.52, a price-to-earnings-growth ratio of 8.59 and a beta of 1.29. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.11 million. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 EPS. On average, analysts expect that Bio-Techne Corp will post 1.65 earnings per share for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued 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 dividend payout ratio (DPR) is presently 46.38%.

Bio-Techne Company Profile

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.