Bio-Techne Corp (NASDAQ:TECH – Get Free Report) declared a quarterly dividend on Wednesday, August 12th. Shareholders of record on Friday, September 4th will be given a dividend of 0.65 per share by the biotechnology company on Thursday, September 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend 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 Performance
TECH opened at $72.23 on Thursday. The company has a 50 day simple moving average of $66.61 and a two-hundred day simple moving average of $59.19. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.49 and a quick ratio of 3.18. The firm has a market cap of $11.31 billion, a P/E ratio of 104.68, a PEG ratio of 8.59 and a beta of 1.28. Bio-Techne has a 1-year low of $43.19 and a 1-year high of $72.39.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on TECH shares. Royal Bank Of Canada lowered Bio-Techne from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from $62.00 to $73.00 in a research note on Thursday, July 9th. William Blair downgraded Bio-Techne from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 25th. TD Cowen lowered Bio-Techne from a “buy” rating to a “hold” rating and upped their price objective for the stock from $65.00 to $73.00 in a research note on Monday, June 29th. Zacks Research cut Bio-Techne from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded Bio-Techne from a “buy” rating to a “hold” rating and set a $73.00 target price on the stock. in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.08.
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.
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