BIO-TECHNE Corp (NASDAQ:TECH) announced a quarterly dividend on Tuesday, October 29th, Fidelity reports. Investors of record on Friday, November 8th will be paid a dividend of 0.32 per share by the biotechnology company on Friday, November 22nd. This represents a $1.28 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, November 7th.
NASDAQ:TECH traded down $1.25 during trading hours on Tuesday, hitting $205.80. The company’s stock had a trading volume of 878 shares, compared to its average volume of 119,500. The business’s 50-day moving average is $201.50 and its two-hundred day moving average is $201.40. The company has a market capitalization of $7.97 billion, a PE ratio of 54.04, a PEG ratio of 4.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.41 and a current ratio of 4.44. BIO-TECHNE has a 52-week low of $132.75 and a 52-week high of $217.15.
BIO-TECHNE (NASDAQ:TECH) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.14. BIO-TECHNE had a return on equity of 13.36% and a net margin of 12.68%. The firm had revenue of $183.24 million during the quarter, compared to analysts’ expectations of $179.38 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. BIO-TECHNE’s revenue was up 12.4% compared to the same quarter last year. As a group, analysts predict that BIO-TECHNE will post 4.26 EPS for the current fiscal year.
In related news, CEO Charles R. Kummeth acquired 200 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were acquired at an average price of $185.00 per share, with a total value of $37,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert V. Baumgartner acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average cost of $191.06 per share, for a total transaction of $95,530.00. Following the purchase, the director now owns 8,726 shares of the company’s stock, valued at $1,667,189.56. The disclosure for this purchase can be found here. 4.20% of the stock is owned by company insiders.
A number of brokerages have recently weighed in on TECH. Leerink Swann restated an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of BIO-TECHNE in a research report on Thursday, September 26th. ValuEngine upgraded BIO-TECHNE from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research cut BIO-TECHNE from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub upgraded BIO-TECHNE from a “sell” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, TheStreet cut BIO-TECHNE from a “b” rating to a “c+” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. BIO-TECHNE presently has an average rating of “Hold” and a consensus price target of $212.83.
BIO-TECHNE Company Profile
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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