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

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 given 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 Up 3.7 %

TECH stock opened at $75.25 on Thursday. The firm has a market cap of $11.96 billion, a PE ratio of 80.05, a PEG ratio of 5.42 and a beta of 1.27. Bio-Techne has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a fifty day simple moving average of $74.62 and a 200 day simple moving average of $74.37. 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 (NASDAQ:TECH) last released its quarterly earnings results on Wednesday, February 5th. The biotechnology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. Sell-side analysts anticipate that Bio-Techne will post 1.68 EPS for the current fiscal year.

Insider Activity at Bio-Techne

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Scotiabank raised their target price 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. Finally, Robert W. Baird lifted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Bio-Techne currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

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.