Bio-Techne Corp (TECH) Plans Quarterly Dividend of $0.32
Bio-Techne Corp (NASDAQ:TECH) declared a quarterly dividend on Tuesday, October 31st, NASDAQ reports. Stockholders of record on Friday, November 10th will be given a dividend of 0.32 per share by the biotechnology company on Friday, November 24th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, November 9th.
Bio-Techne Corp (TECH) traded up 0.477% during trading on Wednesday, hitting $131.645. 25,683 shares of the stock were exchanged. Bio-Techne Corp has a 52 week low of $95.68 and a 52 week high of $132.57. The stock has a 50 day moving average of $122.81 and a 200-day moving average of $116.42. The stock has a market cap of $4.92 billion, a P/E ratio of 64.850 and a beta of 0.76.
Bio-Techne Corp (NASDAQ:TECH) last announced its quarterly earnings results on Tuesday, October 31st. The biotechnology company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. Bio-Techne Corp had a net margin of 12.93% and a return on equity of 14.19%. The company had revenue of $144.61 million for the quarter, compared to analysts’ expectations of $142.37 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. Bio-Techne Corp’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect that Bio-Techne Corp will post $4.00 EPS for the current fiscal year.
In related news, Director Karen A. Holbrook sold 1,059 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $121.73, for a total transaction of $128,912.07. Following the sale, the director now owns 914 shares of the company’s stock, valued at $111,261.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 1,359 shares of company stock worth $164,632 in the last three months. 3.40% of the stock is currently owned by insiders.
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Several equities analysts recently issued reports on TECH shares. Deutsche Bank AG boosted their price target on shares of Bio-Techne Corp from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Wednesday, October 11th. BidaskClub raised shares of Bio-Techne Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Citigroup Inc. reissued a “buy” rating and set a $115.00 price objective (down previously from $125.00) on shares of Bio-Techne Corp in a research note on Tuesday, October 24th. Finally, Wells Fargo & Company started coverage on shares of Bio-Techne Corp in a research note on Thursday, July 13th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bio-Techne Corp has a consensus rating of “Buy” and an average price target of $129.50.
About Bio-Techne Corp
Bio-Techne Corporation develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products, such as cytokines, growth factors, immunoassays, antibodies and related reagents, across the world.
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