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

Bio-Techne Co. (NASDAQ:TECH) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Monday, November 11th will be given a dividend of 0.08 per share by the biotechnology company on Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, November 8th.

Bio-Techne has a payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $2.03 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 15.8%.

Bio-Techne Trading Up 2.3 %

TECH opened at $77.62 on Wednesday. The stock’s 50 day moving average price is $73.98 and its 200-day moving average price is $74.96. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of 82.58, a P/E/G ratio of 5.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.26 and a current ratio of 4.56. Bio-Techne has a one year low of $55.63 and a one year high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities analysts forecast that Bio-Techne will post 1.7 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Royal Bank of Canada dropped their target price on Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Scotiabank upped their price objective on Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Bio-Techne from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.78.

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.