Radnor Capital Management LLC Takes Position in Bio-Techne Co. (NASDAQ:TECH)

Radnor Capital Management LLC bought a new position in shares of Bio-Techne Co. (NASDAQ:TECH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,645 shares of the biotechnology company’s stock, valued at approximately $211,000.

A number of other large investors have also bought and sold shares of the business. Sentry Investment Management LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $59,000. Angeles Wealth Management LLC bought a new stake in Bio-Techne during the 3rd quarter worth approximately $316,000. Janney Montgomery Scott LLC increased its stake in Bio-Techne by 12.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,349 shares of the biotechnology company’s stock worth $907,000 after purchasing an additional 1,235 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Bio-Techne by 1.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 314,097 shares of the biotechnology company’s stock worth $25,106,000 after purchasing an additional 3,060 shares in the last quarter. Finally, Stephens Inc. AR increased its stake in Bio-Techne by 3.2% during the 3rd quarter. Stephens Inc. AR now owns 7,012 shares of the biotechnology company’s stock worth $560,000 after purchasing an additional 217 shares in the last quarter. 98.95% of the stock is owned by institutional investors.

Bio-Techne Trading Up 0.8 %

NASDAQ TECH opened at $76.42 on Friday. Bio-Techne Co. has a 12 month low of $55.63 and a 12 month high of $85.57. The stock has a 50 day moving average of $74.10 and a 200-day moving average of $74.98. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The company has a market cap of $12.12 billion, a PE ratio of 81.30, a PEG ratio of 5.47 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business had revenue of $289.46 million for the quarter, compared to analysts’ expectations of $280.22 million. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Bio-Techne Co. will post 1.7 EPS for the current fiscal year.

Bio-Techne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 8th. Bio-Techne’s payout ratio is 34.04%.

Wall Street Analyst Weigh In

TECH has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Robert W. Baird upped their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Scotiabank upped their price target on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.78.

About Bio-Techne

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.