Hahn Capital Management LLC Sells 21,302 Shares of Bio-Techne Co. (NASDAQ:TECH)

Hahn Capital Management LLC lessened its position in Bio-Techne Co. (NASDAQ:TECH) by 32.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,709 shares of the biotechnology company’s stock after selling 21,302 shares during the quarter. Bio-Techne comprises about 2.3% of Hahn Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. Hahn Capital Management LLC’s holdings in Bio-Techne were worth $3,574,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TECH. Itau Unibanco Holding S.A. bought a new position in shares of Bio-Techne during the 2nd quarter worth about $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of Bio-Techne by 922.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 409 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 369 shares during the period. Industrial Alliance Investment Management Inc. bought a new position in shares of Bio-Techne during the 2nd quarter worth about $31,000. DT Investment Partners LLC bought a new position in shares of Bio-Techne during the 2nd quarter worth about $36,000. Finally, Versant Capital Management Inc increased its holdings in shares of Bio-Techne by 1,427.8% during the 2nd quarter. Versant Capital Management Inc now owns 550 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 514 shares during the period. Institutional investors own 98.95% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TECH shares. Royal Bank of Canada dropped their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Robert W. Baird boosted their price objective 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. Finally, Benchmark reiterated a “buy” rating and set a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bio-Techne has an average rating of “Moderate Buy” and an average target price of $80.60.

Bio-Techne Price Performance

NASDAQ:TECH opened at $68.37 on Friday. The firm has a market cap of $10.77 billion, a PE ratio of 54.26, a price-to-earnings-growth ratio of 5.05 and a beta of 1.27. Bio-Techne Co. has a 12 month low of $51.79 and a 12 month high of $85.57. The company has a quick ratio of 2.75, a current ratio of 3.87 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $73.82 and its two-hundred day moving average price is $74.42.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The firm had revenue of $306.10 million for the quarter, compared to analyst estimates of $306.49 million. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. On average, equities analysts anticipate that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.08 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.32 dividend on an annualized basis and a yield of 0.47%. Bio-Techne’s dividend payout ratio (DPR) is presently 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.