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

Bio-Techne Co. (NASDAQ:TECH) declared a quarterly dividend on Saturday, August 17th, RTT News reports. Investors of record on Monday, August 19th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, August 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, August 19th.

Bio-Techne has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bio-Techne to earn $2.12 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 15.1%.

Bio-Techne Trading Down 0.5 %

Shares of TECH opened at $74.52 on Friday. Bio-Techne has a fifty-two week low of $51.79 and a fifty-two week high of $85.57. The company has a market capitalization of $11.74 billion, a PE ratio of 59.14, a price-to-earnings-growth ratio of 4.69 and a beta of 1.29. The stock has a fifty day moving average of $75.37 and a two-hundred day moving average of $73.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.75 and a current ratio of 3.87.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 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 firm had revenue of $306.10 million during the quarter, compared to analyst estimates of $306.49 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, analysts forecast that Bio-Techne will post 1.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TECH shares. Royal Bank of Canada lowered their target price on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Citigroup lowered Bio-Techne from a “buy” rating to a “neutral” rating and set a $85.00 target price on the stock. in a research report on Wednesday, May 22nd. Finally, Robert W. Baird boosted their price target on Bio-Techne from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.60.

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.