Hahn Capital Management LLC Reduces Stock Position in Bio-Techne Co. (NASDAQ:TECH)

Hahn Capital Management LLC reduced its stake in shares of Bio-Techne Co. (NASDAQ:TECH - Free Report) by 32.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,709 shares of the biotechnology company's stock after selling 21,302 shares during the quarter. Bio-Techne accounts for 2.3% of Hahn Capital Management LLC's portfolio, making the stock its 23rd largest position. Hahn Capital Management LLC's holdings in Bio-Techne were worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Bio-Techne by 92.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company's stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Bio-Techne by 8.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company's stock valued at $205,081,000 after purchasing an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Bio-Techne by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company's stock valued at $185,559,000 after buying an additional 88,257 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Bio-Techne by 20.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company's stock worth $122,879,000 after purchasing an additional 290,510 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Bio-Techne by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 995,824 shares of the biotechnology company's stock valued at $70,095,000 after purchasing an additional 12,991 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on TECH shares. Robert W. Baird raised their target price on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Royal Bank of Canada lowered their target price on Bio-Techne from $72.00 to $70.00 and set a "sector perform" rating for the company in a report on Thursday, August 8th. Finally, Benchmark restated a "buy" rating and issued a $95.00 price objective on shares of Bio-Techne in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $80.60.

Bio-Techne Trading Up 0.5 %

Shares of NASDAQ:TECH traded up $0.31 during trading on Friday, reaching $68.68. 680,367 shares of the company traded hands, compared to its average volume of 1,008,777. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. Bio-Techne Co. has a 52-week low of $51.79 and a 52-week high of $85.57. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 54.26, a P/E/G ratio of 5.05 and a beta of 1.27. The business's fifty day moving average is $73.82 and its 200-day moving average is $74.42.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The company's revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. As a group, analysts forecast that Bio-Techne Co. will post 1.7 EPS for the current year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.32 annualized dividend and a yield of 0.47%. Bio-Techne's payout ratio is 25.40%.

Bio-Techne Profile

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.