Bio-Techne Corp (TECH) to Issue Quarterly Dividend of $0.65 on September 4th

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Monday, August 24th will be given a dividend of 0.65 per share by the biotechnology company on Friday, September 4th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, August 24th. This is a 712.5% increase from Bio-Techne’s previous quarterly dividend of $0.08.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $2.01 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 15.9%.

Bio-Techne Trading Up 0.1%

Shares of TECH stock opened at $72.32 on Friday. Bio-Techne has a fifty-two week low of $43.19 and a fifty-two week high of $72.62. The firm has a market capitalization of $11.32 billion, a P/E ratio of 62.89, a PEG ratio of 8.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55. The stock’s fifty day moving average is $69.28 and its two-hundred day moving average is $59.54.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%.The firm had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Bio-Techne will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

TECH has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Bio-Techne in a research report on Tuesday, August 4th. Robert W. Baird lifted their target price on shares of Bio-Techne from $49.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Leerink Partners set a $73.00 price objective on Bio-Techne in a report on Thursday, June 25th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $73.00 in a research note on Friday, June 26th. Finally, Benchmark reiterated a “hold” rating on shares of Bio-Techne in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.92.

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.