Bio-Techne Co. (NASDAQ:TECH) Announces Quarterly Dividend of $0.32

Bio-Techne Co. (NASDAQ:TECHGet Rating) announced a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Monday, August 15th will be given a dividend of 0.32 per share by the biotechnology company on Monday, August 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, August 12th.

Bio-Techne has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bio-Techne to earn $9.74 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 13.1%.

Bio-Techne Price Performance

TECH opened at $382.97 on Friday. The company has a quick ratio of 2.79, a current ratio of 3.44 and a debt-to-equity ratio of 0.14. Bio-Techne has a 12 month low of $318.07 and a 12 month high of $543.85. The company has a fifty day simple moving average of $357.01 and a 200 day simple moving average of $386.28. The stock has a market cap of $15.02 billion, a P/E ratio of 57.85, a P/E/G ratio of 1.80 and a beta of 1.22.

Bio-Techne (NASDAQ:TECHGet Rating) last released its earnings results on Thursday, August 4th. The biotechnology company reported $2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.03). The firm had revenue of $288.30 million for the quarter, compared to the consensus estimate of $287.04 million. Bio-Techne had a return on equity of 16.97% and a net margin of 24.61%. Bio-Techne’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. On average, research analysts expect that Bio-Techne will post 8.35 EPS for the current year.

Insider Activity at Bio-Techne

In other news, Director Robert V. Baumgartner bought 300 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was acquired at an average cost of $352.55 per share, for a total transaction of $105,765.00. Following the purchase, the director now owns 10,106 shares of the company’s stock, valued at approximately $3,562,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bio-Techne news, CEO Charles R. Kummeth sold 5,104 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $365.00, for a total transaction of $1,862,960.00. Following the completion of the sale, the chief executive officer now directly owns 198,338 shares in the company, valued at $72,393,370. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert V. Baumgartner acquired 300 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $352.55 per share, with a total value of $105,765.00. Following the completion of the transaction, the director now directly owns 10,106 shares of the company’s stock, valued at $3,562,870.30. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bio-Techne

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Bio-Techne by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,445,265 shares of the biotechnology company’s stock valued at $1,924,978,000 after buying an additional 18,627 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Bio-Techne by 28.6% in the first quarter. Wellington Management Group LLP now owns 456,934 shares of the biotechnology company’s stock valued at $197,870,000 after buying an additional 101,567 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bio-Techne by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 318,616 shares of the biotechnology company’s stock valued at $137,974,000 after buying an additional 10,765 shares in the last quarter. Mackenzie Financial Corp increased its stake in Bio-Techne by 11,267.9% in the first quarter. Mackenzie Financial Corp now owns 287,268 shares of the biotechnology company’s stock valued at $124,399,000 after acquiring an additional 284,741 shares during the last quarter. Finally, National Pension Service increased its stake in Bio-Techne by 6.8% in the first quarter. National Pension Service now owns 64,300 shares of the biotechnology company’s stock valued at $27,844,000 after acquiring an additional 4,100 shares during the last quarter. 94.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut Bio-Techne from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company cut Bio-Techne from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $400.00 to $370.00 in a report on Monday, April 25th. Stephens decreased their price objective on Bio-Techne from $500.00 to $480.00 and set an “overweight” rating for the company in a report on Friday. KeyCorp decreased their price objective on Bio-Techne from $600.00 to $500.00 in a report on Thursday, May 5th. Finally, Robert W. Baird decreased their price objective on Bio-Techne from $500.00 to $470.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $489.17.

Bio-Techne Company Profile

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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, and diagnostics and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Genomics. The Protein Sciences segment provides biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies.

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Dividend History for Bio-Techne (NASDAQ:TECH)

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