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

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Wednesday, August 12th. Investors of record on Monday, August 17th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, August 17th.

Bio-Techne has a dividend payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $1.76 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 18.2%.

Bio-Techne Price Performance

TECH opened at $72.23 on Thursday. The stock has a market cap of $11.31 billion, a price-to-earnings ratio of 104.68, a PEG ratio of 8.59 and a beta of 1.28. Bio-Techne has a 1 year low of $43.19 and a 1 year high of $72.39. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average price of $66.61 and a 200 day moving average price of $59.19.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.The firm had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts forecast that Bio-Techne will post 1.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TECH has been the subject of several research reports. Piper Sandler began coverage on Bio-Techne in a report on Thursday, June 11th. They set a “neutral” rating and a $65.00 price target for the company. Stifel Nicolaus set a $50.00 price objective on Bio-Techne in a report on Thursday, May 7th. Leerink Partners set a $73.00 target price on shares of Bio-Techne in a research note on Thursday, June 25th. William Blair lowered shares of Bio-Techne from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada downgraded shares of Bio-Techne from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $62.00 to $73.00 in a report on Thursday, July 9th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.08.

About Bio-Techne

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.