BIO-TECHNE Corp (NASDAQ:TECH) announced a quarterly dividend on Tuesday, October 30th, NASDAQ reports. Stockholders of record on Friday, November 9th will be paid a dividend of 0.32 per share by the biotechnology company on Friday, November 23rd. This represents a $1.28 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Thursday, November 8th.
BIO-TECHNE has raised its dividend by an average of 0.8% per year over the last three years. BIO-TECHNE has a dividend payout ratio of 32.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect BIO-TECHNE to earn $4.22 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 30.3%.
Shares of NASDAQ TECH opened at $172.66 on Wednesday. The firm has a market capitalization of $6.43 billion, a PE ratio of 42.42, a P/E/G ratio of 2.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.56 and a current ratio of 4.65. BIO-TECHNE has a 12-month low of $121.26 and a 12-month high of $206.04.
BIO-TECHNE (NASDAQ:TECH) last announced its quarterly earnings data on Tuesday, October 30th. The biotechnology company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.03. The business had revenue of $163.00 million for the quarter, compared to analysts’ expectations of $162.34 million. BIO-TECHNE had a return on equity of 14.09% and a net margin of 19.19%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 earnings per share. As a group, analysts anticipate that BIO-TECHNE will post 3.79 earnings per share for the current year.
In related news, Director John L. Higgins sold 10,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $187.92, for a total value of $1,879,200.00. Following the transaction, the director now owns 13,012 shares of the company’s stock, valued at $2,445,215.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.
TECH has been the topic of several analyst reports. BidaskClub upgraded BIO-TECHNE from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 28th. Zacks Investment Research lowered BIO-TECHNE from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Craig Hallum increased their target price on BIO-TECHNE from $160.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Goldman Sachs Group initiated coverage on BIO-TECHNE in a report on Wednesday, October 17th. They issued a “neutral” rating and a $190.00 target price on the stock. Finally, Citigroup increased their target price on BIO-TECHNE from $160.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $184.13.
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Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells biotechnology reagents, instruments, and clinical diagnostic controls worldwide. It operates in three segments: Biotechnology, Protein Platforms, and Diagnostics. The Biotechnology segment offers specialized proteins, such as cytokines and growth factors, immunoassays, antibodies, and related reagents to the biotechnology research community; and in situ hybridization, media, and other cell culture products and reagents.
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