Hahn Capital Management LLC Sells 6,074 Shares of Bio-Techne Corp $TECH

Key Points

• Hahn Capital Management LLC has reduced its stake in Bio-Techne Corp by 8.1%, now holding 68,489 shares valued at approximately $4.02 million, making Bio-Techne the company's 25th largest position.
• Bio-Techne posted a quarterly earnings per share of $0.53, exceeding analysts' expectations, and reported a revenue of $316.96 million, a 3.6% increase from the previous year.
• The company announced a quarterly dividend of $0.08 per share, yielding 0.6%, and has an estimated average target price of $70.42 according to market analysts.

Hahn Capital Management LLC reduced its stake in shares of Bio-Techne Corp (NASDAQ:TECH - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,489 shares of the biotechnology company's stock after selling 6,074 shares during the period. Bio-Techne accounts for 1.9% of Hahn Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. Hahn Capital Management LLC's holdings in Bio-Techne were worth $4,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Bio-Techne by 5.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 4,300 shares of the biotechnology company's stock valued at $253,000 after acquiring an additional 210 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Bio-Techne by 0.7% during the 1st quarter. Amalgamated Bank now owns 30,646 shares of the biotechnology company's stock valued at $1,797,000 after acquiring an additional 222 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Bio-Techne by 0.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,005 shares of the biotechnology company's stock valued at $1,994,000 after acquiring an additional 249 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Bio-Techne by 1.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,078 shares of the biotechnology company's stock valued at $1,392,000 after acquiring an additional 263 shares in the last quarter. Finally, NorthRock Partners LLC grew its holdings in shares of Bio-Techne by 4.2% during the 1st quarter. NorthRock Partners LLC now owns 6,936 shares of the biotechnology company's stock valued at $407,000 after acquiring an additional 277 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Bio-Techne Price Performance

NASDAQ:TECH traded down $1.95 during mid-day trading on Friday, hitting $51.26. The company's stock had a trading volume of 1,982,065 shares, compared to its average volume of 1,975,750. Bio-Techne Corp has a fifty-two week low of $46.01 and a fifty-two week high of $80.95. The company has a current ratio of 3.46, a quick ratio of 2.38 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $8.04 billion, a price-to-earnings ratio of 111.44, a P/E/G ratio of 3.27 and a beta of 1.47. The stock has a fifty day moving average of $53.92 and a 200-day moving average of $53.23.

Bio-Techne (NASDAQ:TECH - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $316.96 million during the quarter, compared to analyst estimates of $315.14 million. Bio-Techne had a net margin of 6.02% and a return on equity of 13.43%. The company's revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities analysts forecast that Bio-Techne Corp will post 1.67 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, August 18th. Bio-Techne's dividend payout ratio is 69.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TECH shares. Scotiabank lowered their price target on shares of Bio-Techne from $90.00 to $75.00 and set a "sector outperform" rating on the stock in a report on Friday, July 11th. Royal Bank Of Canada upgraded shares of Bio-Techne from a "hold" rating to a "moderate buy" rating in a report on Wednesday, September 3rd. Wells Fargo & Company assumed coverage on shares of Bio-Techne in a report on Friday, May 30th. They set an "overweight" rating and a $59.00 price target for the company. Benchmark restated a "buy" rating and set a $75.00 price target on shares of Bio-Techne in a report on Thursday, June 5th. Finally, Wall Street Zen cut shares of Bio-Techne from a "buy" rating to a "hold" rating in a report on Sunday, June 8th. One 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.42.

Bio-Techne Company 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.