Radnor Capital Management LLC Buys Shares of 18,865 Bio-Techne Corp $TECH

Radnor Capital Management LLC bought a new stake in Bio-Techne Corp (NASDAQ:TECH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,865 shares of the biotechnology company’s stock, valued at approximately $1,109,000.

Other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of Bio-Techne during the 4th quarter worth approximately $29,000. eCIO Inc. acquired a new position in shares of Bio-Techne during the 4th quarter worth approximately $30,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $32,000. iSAM Funds UK Ltd acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $33,000. Finally, Federated Hermes Inc. acquired a new position in shares of Bio-Techne during the 3rd quarter worth approximately $37,000. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

TECH opened at $44.43 on Tuesday. The firm has a market cap of $6.96 billion, a P/E ratio of 64.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.41. Bio-Techne Corp has a 52-week low of $43.19 and a 52-week high of $72.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. The business’s fifty day moving average is $52.76 and its 200-day moving average is $58.62.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The company had revenue of $311.42 million for the quarter, compared to analyst estimates of $316.11 million. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts expect that Bio-Techne Corp will post 1.69 EPS for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a $0.08 dividend. The ex-dividend date is Monday, May 18th. This represents a $0.32 annualized dividend and a yield of 0.7%. Bio-Techne’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Upgrades and Downgrades

TECH has been the topic of a number of recent analyst reports. Zacks Research raised Bio-Techne from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Benchmark reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday, February 3rd. Weiss Ratings raised Bio-Techne from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Evercore set a $50.00 target price on Bio-Techne in a report on Thursday, May 7th. Finally, TD Cowen reissued a “buy” rating on shares of Bio-Techne in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.92.

About Bio-Techne

Bio-Techne Corporation (NASDAQ:TECH) is a global life sciences company that develops, manufactures and sells high-quality reagents, instruments and services for the research, diagnostic and bioprocessing markets. Its core product offerings include recombinant proteins, antibodies, immunoassays, nucleic acid probes and kits, single-cell analysis solutions and automated protein analysis systems. Flagship brands such as R&D Systems, Novus Biologicals, ProteinSimple and Advanced Cell Diagnostics provide researchers and clinicians with reliable tools for cell biology, immunology, proteomics and genomics applications.

Headquartered in Minneapolis, Minnesota, Bio-Techne serves customers across North America, Europe and the Asia-Pacific region through a combination of direct sales, distributors and strategic partnerships.