Bio-Techne Co. (NASDAQ:TECH) Plans 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 given a dividend of 0.08 per share by the biotechnology company on Friday, May 24th. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, May 10th.

Bio-Techne has a payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Bio-Techne stock traded up $0.52 during mid-day trading on Thursday, hitting $73.98. 250,303 shares of the company were exchanged, compared to its average volume of 1,087,834. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The business’s 50 day simple moving average is $69.57 and its two-hundred day simple moving average is $68.44. The company has a market capitalization of $11.63 billion, a P/E ratio of 53.53, a PEG ratio of 7.87 and a beta of 1.23. Bio-Techne has a 12-month low of $51.79 and a 12-month high of $89.91.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $303.43 million during the quarter, compared to the consensus estimate of $292.36 million. Bio-Techne had a return on equity of 14.21% and a net margin of 19.58%. Bio-Techne’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Analysts forecast that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Bio-Techne from $73.00 to $81.00 and gave the stock an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on Bio-Techne from $85.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a report on Thursday. Scotiabank assumed coverage on Bio-Techne in a report on Thursday, February 8th. They issued a “sector outperform” rating and a $80.00 target price on the stock. Finally, Stephens reduced their target price on Bio-Techne from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the transaction, the director now 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 available at the SEC website. 4.45% of the stock is currently owned by insiders.

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.