Bio-Techne Corp (NASDAQ:TECH) Shares Set to Pay Quarterly Dividend of $0.08

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Tuesday, November 3rd. Stockholders of record on Friday, November 13th will be given a dividend of $0.08 per share by the biotechnology company on Monday, November 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a 87.7% decrease from Bio-Techne’s previous quarterly dividend of $0.65.

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 $1.97 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 stock traded up $0.07 during mid-day trading on Wednesday, reaching $72.73. 4,206,587 shares of the company’s stock were exchanged, compared to its average volume of 3,294,162. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 5.27 and a beta of 1.29. The stock’s 50 day moving average is $72.46 and its 200 day moving average is $63.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.55 and a quick ratio of 3.35. Bio-Techne has a 12-month low of $43.19 and a 12-month high of $72.83.

Bio-Techne (NASDAQ:TECH) last released its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. The business had revenue of $321.19 million for the quarter, compared to the consensus estimate of $314.63 million. During the same quarter last year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Bio-Techne will post 1.75 EPS for the current year.

Hedge Funds Weigh In On Bio-Techne

Several institutional investors have recently modified their holdings of the business. Root Financial Partners LLC purchased a new position in Bio-Techne in the third quarter worth approximately $27,000. Avalon Trust Co purchased a new stake in shares of Bio-Techne during the 2nd quarter worth $42,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Bio-Techne during the 1st quarter worth $37,000. Allworth Financial LP acquired a new position in shares of Bio-Techne during the second quarter worth $59,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Bio-Techne during the second quarter worth $71,000. Institutional investors and hedge funds own 98.95% of the company’s stock.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.