Should You Invest in Bio-Techne Corporation (TECH)?

Conestoga Capital Advisors, an asset management company, released its “Conestoga Mid Cap Growth Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the Mid Cap composite returned -4.84% net of fees compared to a -0.65% return for the Russell Mid Cap Growth Index. Negative stock selection and allocation effects led to the fund’s underperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Conestoga Capital Advisors highlighted stocks like Bio-Techne Corporation (NASDAQ:TECH) in its Q3 2022 investor letter. Headquartered in Minneapolis, Minnesota, Bio-Techne Corporation (NASDAQ:TECH) is a developer and manufacturer of regent solutions, instruments, and services for research and clinical diagnostic markets. On December 16, 2022, Bio-Techne Corporation (NASDAQ:TECH) stock closed at $82.38 per share. One-month return of Bio-Techne Corporation (NASDAQ:TECH) was -0.76%, and its shares lost 29.16% of their value over the last 52 weeks. Bio-Techne Corporation (NASDAQ:TECH) has a market capitalization of $12.931 billion.

Conestoga Capital Advisors made the following comment about Bio-Techne Corporation (NASDAQ:TECH) in its Q3 2022 investor letter:

“Bio-Techne Corporation (NASDAQ:TECH): TECH makes and distributes biological research supplies used by researchers around the globe. During the quarter, TECH reported in-line earnings and provided an upbeat forward guidance of low double-digit organic revenue growth. Despite the solid results, TECH shares traded down nearly 15% in September (roughly double the benchmark’s drawdown), similar to public healthcare peers.”

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Bio-Techne Corporation (NASDAQ:TECH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Bio-Techne Corporation (NASDAQ:TECH) at the end of the third quarter, which was 31 in the previous quarter.

We discussed Bio-Techne Corporation (NASDAQ:TECH) in another article and shared Aristotle Atlantic Partners’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.