Bio-Techne Co. Declares Quarterly Dividend of $0.08 (NASDAQ:TECH)

Bio-Techne Co. (NASDAQ:TECH) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.08 per share by the biotechnology company on Friday, May 24th. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, May 10th.

Bio-Techne has a payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bio-Techne to earn $1.81 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 17.7%.

Bio-Techne Price Performance

Bio-Techne stock opened at $77.46 on Wednesday. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12.18 billion, a P/E ratio of 61.48, a PEG ratio of 9.08 and a beta of 1.23. The business has a 50-day moving average of $69.93 and a 200-day moving average of $68.75. Bio-Techne has a 1 year low of $51.79 and a 1 year high of $89.91.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $303.43 million during the quarter, compared to analysts’ expectations of $292.36 million. Bio-Techne had a net margin of 17.59% and a return on equity of 13.60%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, equities analysts anticipate that Bio-Techne will post 1.52 EPS for the current year.

Insider Activity

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $76.98, for a total value of $800,592.00. Following the transaction, the director now directly owns 43,097 shares in the company, valued at $3,317,607.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

TECH has been the subject of a number of recent analyst reports. Stephens lowered their price objective on shares of Bio-Techne from $92.00 to $87.00 and set an “overweight” rating for the company in a research report on Friday, February 2nd. Royal Bank of Canada dropped their price target on Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Scotiabank started coverage on shares of Bio-Techne in a research note on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 price target on the stock. Finally, Stifel Nicolaus downgraded shares of Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 price objective for the company. in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.50.

Bio-Techne Company 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.