Bio-Techne Corp (NASDAQ:TECH) Plans Quarterly Dividend of $0.65

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Wednesday, August 12th. Investors of record on Friday, September 4th will be paid a dividend of 0.65 per share by the biotechnology company on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, September 4th. This is a 712.5% increase from Bio-Techne’s previous quarterly dividend of $0.08.

Bio-Techne has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bio-Techne to earn $1.76 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 18.2%.

Bio-Techne Stock Up 0.1%

TECH stock opened at $72.23 on Thursday. The company has a market cap of $11.31 billion, a P/E ratio of 104.68, a P/E/G ratio of 8.59 and a beta of 1.28. Bio-Techne has a 52 week low of $43.19 and a 52 week high of $72.39. The company’s 50-day moving average price is $66.61 and its 200 day moving average price is $59.19. The company has a current ratio of 4.49, a quick ratio of 3.18 and a debt-to-equity ratio of 0.10.

Bio-Techne (NASDAQ:TECH) last issued its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Bio-Techne had a net margin of 9.05% and a return on equity of 13.57%. The company had revenue of $321.19 million during the quarter, compared to analysts’ expectations of $314.63 million. During the same period last year, the company posted $0.53 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Bio-Techne will post 1.65 earnings per share for the current fiscal year.

Institutional Trading of Bio-Techne

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Bio-Techne during the second quarter worth about $990,924,000. Wellington Management Group LLP lifted its stake in shares of Bio-Techne by 349.8% during the third quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after buying an additional 3,978,026 shares during the period. Ruane Cunniff & Goldfarb L.P. lifted its stake in shares of Bio-Techne by 131.4% during the first quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,392,001 shares of the biotechnology company’s stock valued at $177,266,000 after buying an additional 1,926,066 shares during the period. Norges Bank acquired a new stake in Bio-Techne during the fourth quarter worth approximately $99,494,000. Finally, Durable Capital Partners LP acquired a new stake in Bio-Techne during the third quarter worth approximately $77,658,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Company Profile

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.