Bio-Techne Co. (TECH) to Issue Quarterly Dividend of $0.08 on November 22nd

Bio-Techne Co. (NASDAQ:TECH) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors 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 0.43%. The ex-dividend date is Friday, November 8th.

Bio-Techne has a payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bio-Techne to earn $2.01 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 15.9%.

Bio-Techne Stock Performance

Shares of Bio-Techne stock opened at $73.75 on Friday. The company has a current ratio of 4.56, a quick ratio of 2.75 and a debt-to-equity ratio of 0.14. The company has a market cap of $11.70 billion, a PE ratio of 78.46, a price-to-earnings-growth ratio of 5.49 and a beta of 1.27. The company has a 50 day moving average of $73.64 and a 200-day moving average of $74.54. Bio-Techne has a 1-year low of $51.79 and a 1-year high of $85.57.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.49. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The firm had revenue of $306.10 million for the quarter, compared to the consensus estimate of $306.49 million. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts forecast that Bio-Techne will post 1.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TECH shares. Robert W. Baird lifted 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. Royal Bank of Canada lowered their price target on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Scotiabank raised their price objective on Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Benchmark reiterated a “buy” rating and issued a $95.00 target price on shares of Bio-Techne in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.60.

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.