2,645 Shares in Bio-Techne Co. (NASDAQ:TECH) Bought by Radnor Capital Management LLC

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

A number of other hedge funds also recently modified their holdings of TECH. Price T Rowe Associates Inc. MD increased its position in shares of Bio-Techne by 92.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,746,119 shares of the biotechnology company’s stock worth $404,470,000 after purchasing an additional 2,755,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after purchasing an additional 290,510 shares during the period. Mackenzie Financial Corp increased its position in shares of Bio-Techne by 8.2% in the second quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after purchasing an additional 216,044 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Bio-Techne by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock worth $185,559,000 after purchasing an additional 88,257 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Bio-Techne by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock valued at $64,082,000 after buying an additional 76,641 shares in the last quarter. Institutional investors own 98.95% of the company’s stock.

Bio-Techne Stock Performance

Shares of TECH stock opened at $76.42 on Friday. The business’s 50-day moving average price is $74.10 and its 200-day moving average price is $74.98. Bio-Techne Co. has a 12 month low of $55.63 and a 12 month high of $85.57. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 81.30, a PEG ratio of 5.47 and a beta of 1.28. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14.

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

Bio-Techne Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on TECH. Robert W. Baird raised their price objective on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada reduced their price objective on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 8th. Scotiabank raised their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Profile

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.