Bio-Techne Co. (NASDAQ:TECH) to Issue $0.08 Quarterly Dividend

Bio-Techne Co. (NASDAQ:TECH) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Monday, November 11th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, November 8th.

Bio-Techne has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ:TECH opened at $76.02 on Thursday. The firm’s fifty day moving average price is $73.58 and its two-hundred day moving average price is $74.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.87 and a quick ratio of 2.75. The company has a market cap of $11.98 billion, a P/E ratio of 60.33, a P/E/G ratio of 4.96 and a beta of 1.27. Bio-Techne has a one year low of $51.79 and a one year high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a return on equity of 12.88% and a net margin of 14.50%. The business had revenue of $306.10 million during the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that Bio-Techne will post 1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

TECH has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $95.00 price target on shares of Bio-Techne in a research report on Tuesday, August 13th. Royal Bank of Canada decreased their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Robert W. Baird increased their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.80.

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.