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

Bio-Techne Corp (NASDAQ:TECH) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Monday, May 18th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th.

Bio-Techne has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $1.90 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 16.8%.

Bio-Techne Trading Down 16.6%

NASDAQ:TECH traded down $9.43 during trading hours on Wednesday, reaching $47.26. The company’s stock had a trading volume of 11,948,129 shares, compared to its average volume of 2,437,383. The firm has a market capitalization of $7.39 billion, a price-to-earnings ratio of 92.66, a PEG ratio of 3.60 and a beta of 1.41. The firm has a 50-day simple moving average of $54.70 and a 200-day simple moving average of $59.71. Bio-Techne has a 1 year low of $45.12 and a 1 year high of $72.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.08 and a current ratio of 4.54.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to analysts’ expectations of $316.08 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Research analysts expect that Bio-Techne will post 1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen reiterated a “buy” rating on shares of Bio-Techne in a research report on Tuesday, March 17th. UBS Group reiterated a “buy” rating and issued a $79.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Thursday, February 5th. Citigroup reiterated a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Bio-Techne in a research report on Wednesday, February 4th. Robert W. Baird set a $70.00 price objective on shares of Bio-Techne in a research report on Thursday, February 5th. Finally, Weiss Ratings cut shares of Bio-Techne from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.77.

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.