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

Bio-Techne Corp (NASDAQ:TECH) declared a quarterly dividend on Wednesday, February 4th. Shareholders of record on Monday, February 16th will be given a dividend of 0.08 per share by the biotechnology company on Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, February 13th.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Bio-Techne to earn $1.97 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 16.2%.

Bio-Techne Stock Performance

TECH stock traded up $4.04 during mid-day trading on Wednesday, reaching $68.67. 5,537,713 shares of the stock traded hands, compared to its average volume of 2,581,043. The firm has a market capitalization of $10.70 billion, a PE ratio of 140.15, a P/E/G ratio of 4.50 and a beta of 1.48. The business has a 50-day moving average of $63.15 and a two-hundred day moving average of $59.14. Bio-Techne has a 52 week low of $46.01 and a 52 week high of $79.28. The company has a quick ratio of 2.81, a current ratio of 4.22 and a debt-to-equity ratio of 0.15.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, February 4th. The biotechnology company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. Bio-Techne had a return on equity of 13.59% and a net margin of 6.41%.The business had revenue of $295.88 million during the quarter, compared to analysts’ expectations of $290.20 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts predict that Bio-Techne will post 1.67 EPS for the current fiscal year.

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.