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

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Monday, May 18th will be given a dividend of 0.08 per share by the biotechnology company on Friday, May 29th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, May 18th.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bio-Techne to earn $1.90 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 16.8%.

Bio-Techne Trading Down 16.6%

TECH opened at $47.26 on Thursday. The company has a fifty day moving average price of $54.55 and a two-hundred day moving average price of $59.61. Bio-Techne has a 1-year low of $45.12 and a 1-year high of $72.16. The company has a market cap of $7.39 billion, a P/E ratio of 92.66, a price-to-earnings-growth ratio of 3.73 and a beta of 1.41. The company has a current ratio of 4.54, a quick ratio of 3.08 and a debt-to-equity ratio of 0.13.

Bio-Techne (NASDAQ:TECH) last released its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). Bio-Techne had a return on equity of 13.94% and a net margin of 6.67%.The company had revenue of $311.42 million for the quarter, compared to the consensus estimate of $316.11 million. During the same period last year, the company earned $0.56 EPS. Bio-Techne’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that Bio-Techne will post 1.73 EPS for the current fiscal year.

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.