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

Bio-Techne Co. (NASDAQ:TECH) announced a quarterly dividend on Wednesday, February 5th,RTT News reports. Shareholders of record on Monday, February 17th will be paid a dividend of 0.08 per share by the biotechnology company on Friday, February 28th. This represents a $0.32 annualized dividend and a yield of 0.43%.

Bio-Techne has a dividend payout ratio of 14.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bio-Techne to earn $2.02 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 Stock Performance

NASDAQ:TECH opened at $75.25 on Thursday. The company has a 50-day moving average of $74.62 and a 200-day moving average of $74.37. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 80.05, a price-to-earnings-growth ratio of 5.42 and a beta of 1.27. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. Bio-Techne has a twelve month low of $61.16 and a twelve month high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Analysts forecast that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TECH has been the topic of a number of recent research reports. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Insider Buying and Selling at Bio-Techne

In other Bio-Techne news, CEO Kim Kelderman sold 13,392 shares of Bio-Techne stock in a transaction on Monday, January 27th. The shares were sold at an average price of $77.29, for a total transaction of $1,035,067.68. Following the completion of the sale, the chief executive officer now owns 39,004 shares of the company’s stock, valued at $3,014,619.16. This trade represents a 25.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.90% 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.