BIO-TECHNE Corp (NASDAQ:TECH) announced a quarterly dividend on Tuesday, October 29th, Fidelity reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.32 per share by the biotechnology company on Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Thursday, November 7th.
Shares of NASDAQ:TECH traded down $0.76 on Wednesday, reaching $203.94. 695 shares of the company’s stock were exchanged, compared to its average volume of 119,500. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 4.49 and a beta of 1.22. BIO-TECHNE has a fifty-two week low of $132.75 and a fifty-two week high of $217.15. The business’s 50-day moving average is $201.60 and its two-hundred day moving average is $201.48. The company has a quick ratio of 3.41, a current ratio of 4.44 and a debt-to-equity ratio of 0.47.
BIO-TECHNE (NASDAQ:TECH) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.14. The company had revenue of $183.24 million for the quarter, compared to analysts’ expectations of $179.38 million. BIO-TECHNE had a net margin of 12.68% and a return on equity of 13.36%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Analysts predict that BIO-TECHNE will post 4.26 earnings per share for the current fiscal year.
A number of analysts have weighed in on TECH shares. TheStreet cut shares of BIO-TECHNE from a “b” rating to a “c+” rating in a report on Tuesday, August 6th. BidaskClub raised shares of BIO-TECHNE from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. ValuEngine raised shares of BIO-TECHNE from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut shares of BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $240.00 price objective (up previously from $230.00) on shares of BIO-TECHNE in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. BIO-TECHNE presently has a consensus rating of “Hold” and an average target price of $212.83.
BIO-TECHNE Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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