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

Bio-Techne Corp (NASDAQ:TECH) declared a quarterly dividend on Wednesday, February 4th. Stockholders 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) annualized dividend and a dividend 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. Equities 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 Price Performance

TECH opened at $68.67 on Thursday. The stock’s 50-day moving average price is $63.23 and its 200 day moving average price is $59.21. Bio-Techne has a 12-month low of $46.01 and a 12-month high of $79.28. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 140.15, a PEG ratio of 4.46 and a beta of 1.48. The company has a current ratio of 4.22, a quick ratio of 2.81 and a debt-to-equity ratio of 0.15.

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

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors and hedge funds have recently bought and sold shares of TECH. Wellington Management Group LLP lifted its holdings in shares of Bio-Techne by 349.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,115,133 shares of the biotechnology company’s stock valued at $284,555,000 after purchasing an additional 3,978,026 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Bio-Techne by 164.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,012,818 shares of the biotechnology company’s stock valued at $235,994,000 after buying an additional 2,495,328 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Bio-Techne by 7.7% in the third quarter. Invesco Ltd. now owns 3,946,028 shares of the biotechnology company’s stock valued at $219,518,000 after acquiring an additional 283,303 shares during the period. Neuberger Berman Group LLC grew its position in shares of Bio-Techne by 32.3% during the third quarter. Neuberger Berman Group LLC now owns 3,307,116 shares of the biotechnology company’s stock worth $183,975,000 after acquiring an additional 807,147 shares during the last quarter. Finally, Mairs & Power Inc. increased its holdings in shares of Bio-Techne by 3.4% in the 3rd quarter. Mairs & Power Inc. now owns 2,807,409 shares of the biotechnology company’s stock valued at $156,176,000 after acquiring an additional 91,031 shares during the period. 98.95% of the stock is owned by hedge funds and other institutional investors.

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.