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

Key Points

• Dividend declared: Bio‑Techne will pay a quarterly dividend of $0.08 per share (annualized $0.32) to shareholders of record May 18, payable May 29, implying a yield of about 0.7%.
• Earnings miss and share reaction: Q1 EPS was $0.53 vs. $0.55 expected and revenue was $311.4M vs. $316.1M expected, and the stock fell $9.43 to $47.26 on heavy volume.
• Dividend well covered: The payout ratio is low at ~15.4%, and analysts’ EPS forecasts suggest Bio‑Techne should be able to maintain the $0.32 annual dividend.

Bio-Techne Corp (NASDAQ:TECH - Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, May 18th will be given 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 dividend yield of 0.7%. The ex-dividend date is Monday, May 18th.

Bio-Techne has a payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

TECH traded down $9.43 on Wednesday, hitting $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 company's 50 day simple moving average is $54.70 and its 200-day simple moving average is $59.71. The firm has a market cap of $7.39 billion, a P/E ratio of 92.66, a price-to-earnings-growth ratio of 3.60 and a beta of 1.41. Bio-Techne has a 12 month low of $45.12 and a 12 month high of $72.16. The company has a quick ratio of 3.08, a current ratio of 4.54 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $311.42 million during the quarter, compared to the consensus estimate of $316.08 million. Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. Analysts forecast that Bio-Techne will post 1.73 EPS for the current year.

Institutional Trading of Bio-Techne

Several institutional investors and hedge funds have recently bought and sold shares of TECH. Morgan Stanley raised its position in shares of Bio-Techne by 15.3% during the 4th quarter. Morgan Stanley now owns 8,345,414 shares of the biotechnology company's stock valued at $490,794,000 after buying an additional 1,107,536 shares in the last quarter. State Street Corp raised its position in shares of Bio-Techne by 1.0% during the 4th quarter. State Street Corp now owns 5,812,032 shares of the biotechnology company's stock valued at $341,806,000 after buying an additional 58,639 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Bio-Techne by 12.1% during the 4th quarter. Wellington Management Group LLP now owns 5,734,049 shares of the biotechnology company's stock valued at $337,219,000 after buying an additional 618,916 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Bio-Techne by 21.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,075,194 shares of the biotechnology company's stock valued at $239,663,000 after buying an additional 725,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Bio-Techne by 164.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company's stock valued at $235,994,000 after buying an additional 2,495,328 shares in the last quarter. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

About Bio-Techne

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.

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