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

Bio-Techne Co. (NASDAQ:TECH) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, May 24th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date 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 Stock Performance

Shares of TECH stock opened at $77.05 on Thursday. The company’s fifty day simple moving average is $69.98 and its 200-day simple moving average is $68.81. The company has a current ratio of 4.08, a quick ratio of 2.88 and a debt-to-equity ratio of 0.19. Bio-Techne has a 52 week low of $51.79 and a 52 week high of $89.91. The company has a market cap of $12.11 billion, a PE ratio of 61.15, a P/E/G ratio of 9.08 and a beta of 1.23.

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

Insider Activity at Bio-Techne

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

Analyst Ratings Changes

TECH has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Bio-Techne from $85.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Bio-Techne from $85.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Robert W. Baird lifted their price objective on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Stifel Nicolaus cut Bio-Techne from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a research note on Friday, February 2nd. Finally, Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.50.

About Bio-Techne

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.