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

Bio-Techne Co. (NASDAQ:TECH - Get Free Report) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Monday, May 13th will be given a dividend of 0.08 per share by the biotechnology company on Friday, May 24th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, May 10th.

Bio-Techne has a dividend payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $1.81 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 17.7%.

Bio-Techne Stock Up 2.9 %

Shares of NASDAQ:TECH traded up $2.14 during midday trading on Thursday, reaching $75.60. The company had a trading volume of 2,255,996 shares, compared to its average volume of 1,112,526. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.37 and a quick ratio of 3.03. The stock's fifty day moving average price is $69.57 and its 200-day moving average price is $68.44. The stock has a market capitalization of $11.88 billion, a P/E ratio of 55.20, a PEG ratio of 7.87 and a beta of 1.23. Bio-Techne has a one year low of $51.79 and a one year high of $89.91.

Bio-Techne (NASDAQ:TECH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $303.43 million during the quarter, compared to analyst estimates of $292.36 million. Bio-Techne had a net margin of 19.58% and a return on equity of 14.21%. The business's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Equities research analysts expect that Bio-Techne will post 1.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Bio-Techne from $73.00 to $81.00 and gave the company an "outperform" rating in a research note on Thursday. Benchmark reiterated a "buy" rating and set a $95.00 target price on shares of Bio-Techne in a research note on Thursday. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $85.00 to $75.00 and set a "sector perform" rating for the company in a research report on Friday, February 2nd. Stephens lowered their price target on shares of Bio-Techne from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Friday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Bio-Techne from $85.00 to $82.00 and set a "buy" rating for the company in a research report on Thursday, April 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Bio-Techne currently has a consensus rating of "Moderate Buy" and an average price target of $80.50.

Insiders Place Their Bets

In other Bio-Techne news, Director Roeland Nusse sold 10,400 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $76.98, for a total transaction of $800,592.00. Following the completion of the sale, the director now owns 43,097 shares of the company's stock, valued at $3,317,607.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.45% of the company's stock.

Bio-Techne Company Profile

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.