Radnor Capital Management LLC Takes Position in Bio-Techne Corp $TECH

Radnor Capital Management LLC bought a new position in shares of Bio-Techne Corp (NASDAQ:TECH) in the 4th quarter, Holdings Channel reports. The fund bought 18,865 shares of the biotechnology company’s stock, valued at approximately $1,109,000.

Several other large investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in shares of Bio-Techne by 12.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,063,939 shares of the biotechnology company’s stock valued at $62,379,000 after acquiring an additional 113,634 shares in the last quarter. Woodline Partners LP boosted its stake in Bio-Techne by 40.0% during the first quarter. Woodline Partners LP now owns 13,356 shares of the biotechnology company’s stock worth $783,000 after acquiring an additional 3,814 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Bio-Techne by 506.3% during the second quarter. EverSource Wealth Advisors LLC now owns 673 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 562 shares in the last quarter. First Trust Advisors LP boosted its stake in Bio-Techne by 1,085.7% during the second quarter. First Trust Advisors LP now owns 105,418 shares of the biotechnology company’s stock worth $5,424,000 after acquiring an additional 96,527 shares in the last quarter. Finally, Natixis boosted its stake in Bio-Techne by 82.6% during the second quarter. Natixis now owns 24,991 shares of the biotechnology company’s stock worth $1,286,000 after acquiring an additional 11,306 shares in the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Trading Up 2.6%

Shares of Bio-Techne stock opened at $44.43 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne Corp has a 52 week low of $43.19 and a 52 week high of $72.16. The stock has a 50 day moving average price of $52.76 and a two-hundred day moving average price of $58.62. The stock has a market capitalization of $6.96 billion, a PE ratio of 64.39, a price-to-earnings-growth ratio of 3.37 and a beta of 1.41.

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

Bio-Techne Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on TECH. Robert W. Baird set a $49.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. Wells Fargo & Company cut their target price on shares of Bio-Techne from $76.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Stifel Nicolaus set a $50.00 target price on shares of Bio-Techne in a research note on Thursday, May 7th. UBS Group reissued a “buy” rating and set a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research note on Thursday, February 5th. Finally, Benchmark reissued a “buy” rating on shares of Bio-Techne in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.92.

Bio-Techne Profile

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.