Can Bio-Techne Corporation (TECH) Still Bounce Back?

Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 6.01% compared to a 4.72% decline for the Russell 3000 Health Care Index. The fund’s underperformance in the quarter was attributed to poor stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds 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 October 14, 2022, Bio-Techne Corporation (NASDAQ:TECH) stock closed at $282.86 per share. One-month return of Bio-Techne Corporation (NASDAQ:TECH) was -6.95% and its shares lost 43.37% of their value over the last 52 weeks. Bio-Techne Corporation (NASDAQ:TECH) has a market capitalization of $11.095 billion.

Here is what Baron Funds specifically said about Bio-Techne Corporation (NASDAQ:TECH) in its Q3 2022 investor letter:

“Bio-Techne Corporation (NASDAQ:TECH) is a leading developer and manufacturer of reagents, instruments, and services for the life sciences research, diagnostics, and bioprocessing markets. Short-term headwinds, including COVID-related lockdowns in China, foreign currency fluctuations, and some pull forward of sales into the prior quarter ahead of a price increase, pressured shares. We view these headwinds as temporary and continue to have conviction that Bio-Techne can generate strong long-term growth.”

Bio-Techne Corporation (NASDAQ:TECH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Bio-Techne Corporation (NASDAQ:TECH) at the end of the second quarter which was 29 in the previous quarter.

We discussed Bio-Techne Corporation (NASDAQ:TECH) in another article and shared Baron Funds’ views on the company in the previous quarter. 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.