Today's Trend
Bio-Techne Corp. (NASDAQ: TECH) shares remain near their 52-week high as investors weigh better-than-expected revenue, a large dividend announcement, and limited upside under the company’s pending acquisition by Merck KGaA.
- Bio-Techne reported fiscal fourth-quarter revenue of approximately $321.2 million, exceeding the $314.6 million analyst estimate. Organic revenue grew 3%, supported by strong performance in Diagnostics and Spatial Biology, while GAAP earnings improved substantially year over year. Reuters earnings article
- The company’s corrected dividend announcement specifies a quarterly payment of $0.65 per share, payable August 28 to shareholders of record August 24. The payment implies an annualized yield of roughly 3.6%, although the correction indicates the earlier August 17 record date was incorrect. Bio-Techne dividend correction
- Wells Fargo downgraded TECH from “overweight” to “equal weight” but raised its price target from $62 to $73. The revised target is only modestly above the stock’s recent trading level, suggesting the analyst sees limited near-term upside.
- Quarterly EPS of $0.52 matched estimates but declined from $0.53 a year earlier, and full-year revenue was essentially flat. In addition, Merck’s agreed $73-per-share cash acquisition effectively caps the stock’s value near the offer price unless deal terms change or a competing bid emerges.
Overall, the revenue beat and dividend support sentiment, but the Wells Fargo downgrade, muted growth, and the stock’s proximity to Merck’s $73 acquisition price are likely limiting further gains.