Bio-Techne Corporation (TECH, Financial) is a leading developer and manufacturer ofreagents, instruments, and services for the life sciences research, diagnostics, and bioprocessing markets. Short-term headwinds, including COVID-related lockdowns in China, foreign currency exchange rates, 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.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund third-quarter 2022 commentary.