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

Key Points

• Bio-Techne declared a quarterly dividend of $0.08 per share, payable August 28 to shareholders of record as of August 17. The annualized dividend is $0.32, yielding approximately 0.4%.
• The dividend appears well covered, with a current payout ratio of 15.4% and an expected future payout ratio of 18.2% based on projected earnings.
• Bio-Techne reported quarterly EPS of $0.52, matching analyst estimates, while revenue of $321.19 million exceeded expectations. Analysts maintain a consensus “Hold” rating, with an average price target of $68.08.

Bio-Techne Corp (NASDAQ:TECH - Get Free Report) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, August 28th. This represents a c) dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 17th.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bio-Techne to earn $1.76 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 18.2%.

Bio-Techne Stock Up 0.1%

Shares of NASDAQ TECH traded up $0.08 during midday trading on Wednesday, hitting $72.23. 2,358,993 shares of the stock traded hands, compared to its average volume of 3,483,642. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.18 and a current ratio of 4.49. Bio-Techne has a one year low of $43.19 and a one year high of $72.39. The business has a 50 day moving average price of $66.18 and a two-hundred day moving average price of $59.18. The company has a market cap of $11.31 billion, a PE ratio of 104.68, a P/E/G ratio of 8.59 and a beta of 1.28.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $321.19 million for the quarter, compared to analysts' expectations of $314.68 million. Bio-Techne had a return on equity of 13.57% and a net margin of 9.05%.Bio-Techne's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.53 EPS. On average, equities analysts predict that Bio-Techne will post 1.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TECH. Evercore cut shares of Bio-Techne from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Zacks Research cut shares of Bio-Techne from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Robert W. Baird lifted their price target on Bio-Techne from $49.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered Bio-Techne from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $62.00 to $73.00 in a report on Thursday, July 9th. Finally, TD Cowen downgraded Bio-Techne from a "buy" rating to a "hold" rating and increased their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bio-Techne presently has a consensus rating of "Hold" and an average price target of $68.08.

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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