Bio-Techne Corp Plans Quarterly Dividend of $0.08 (NASDAQ:TECH)

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Wednesday, February 4th. Shareholders of record on Monday, February 16th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, February 27th. This represents a c) annualized dividend and a yield of 0.5%. The ex-dividend date is Friday, February 13th.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bio-Techne to earn $1.97 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 16.2%.

Bio-Techne Stock Up 6.3%

Shares of TECH traded up $4.04 during mid-day trading on Wednesday, reaching $68.67. The company’s stock had a trading volume of 5,537,713 shares, compared to its average volume of 2,581,043. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 140.15, a price-to-earnings-growth ratio of 4.50 and a beta of 1.48. The business has a fifty day moving average of $63.15 and a 200 day moving average of $59.14. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15. Bio-Techne has a 1 year low of $46.01 and a 1 year high of $79.28.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $295.88 million for the quarter, compared to the consensus estimate of $290.20 million. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.Bio-Techne’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, analysts forecast that Bio-Techne will post 1.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TECH. Argus increased their price target on shares of Bio-Techne from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Wells Fargo & Company upped their price objective on shares of Bio-Techne from $59.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Benchmark reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday. UBS Group boosted their price target on shares of Bio-Techne from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Evercore ISI set a $62.00 price objective on Bio-Techne and gave the stock an “in-line” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.57.

Bio-Techne Company 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.