Shares of Bio-Techne Co. (NASDAQ:TECH – Get Free Report) gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $70.74, but opened at $74.00. Bio-Techne shares last traded at $78.07, with a volume of 455,683 shares changing hands.
The newly announced dividend which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.42%. Bio-Techne’s dividend payout ratio (DPR) is 25.40%.
Analyst Ratings Changes
Several research analysts have issued reports on TECH shares. Robert W. Baird lifted their price target on shares of Bio-Techne from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and set a $95.00 price objective on shares of Bio-Techne in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bio-Techne presently has an average rating of “Moderate Buy” and an average target price of $80.60.
Bio-Techne Stock Performance
The firm’s fifty day moving average price is $73.58 and its 200 day moving average price is $74.52. The company has a current ratio of 3.87, a quick ratio of 2.75 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $11.98 billion, a PE ratio of 60.33, a PEG ratio of 4.96 and a beta of 1.27.
Bio-Techne (NASDAQ:TECH – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. Bio-Techne had a net margin of 14.50% and a return on equity of 12.88%. The business had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $306.49 million. During the same period in the previous year, the company posted $0.56 EPS. Bio-Techne’s revenue was up 1.6% on a year-over-year basis. On average, research analysts anticipate that Bio-Techne Co. will post 1.7 earnings per share for the current year.
Institutional Investors Weigh In On Bio-Techne
Several institutional investors and hedge funds have recently modified their holdings of the business. Radnor Capital Management LLC acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at $211,000. Sentry Investment Management LLC acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at $59,000. Angeles Wealth Management LLC acquired a new stake in shares of Bio-Techne in the 3rd quarter valued at $316,000. Janney Montgomery Scott LLC lifted its stake in shares of Bio-Techne by 12.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,349 shares of the biotechnology company’s stock valued at $907,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of Bio-Techne by 1.0% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 314,097 shares of the biotechnology company’s stock valued at $25,106,000 after purchasing an additional 3,060 shares during the last quarter. Institutional investors and hedge funds own 98.95% of the company’s stock.
Bio-Techne Company Profile
Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.
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