Bio-Techne Co. (NASDAQ:TECH) Short Interest Up 15.6% in November

Bio-Techne Co. (NASDAQ:TECH) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,080,000 shares, a growth of 15.6% from the November 15th total of 3,530,000 shares. Based on an average daily trading volume, of 927,100 shares, the short-interest ratio is presently 4.4 days.

Institutional Investors Weigh In On Bio-Techne

A number of institutional investors have recently made changes to their positions in TECH. Oddo BHF Asset Management Sas acquired a new position in Bio-Techne during the 3rd quarter worth approximately $1,188,000. Synovus Financial Corp lifted its position in shares of Bio-Techne by 1.5% during the 3rd quarter. Synovus Financial Corp now owns 13,223 shares of the biotechnology company’s stock worth $1,057,000 after buying an additional 198 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Bio-Techne by 17.7% during the 3rd quarter. Tidal Investments LLC now owns 28,940 shares of the biotechnology company’s stock worth $2,313,000 after buying an additional 4,356 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in shares of Bio-Techne by 55.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,651 shares of the biotechnology company’s stock worth $372,000 after buying an additional 1,656 shares during the last quarter. Finally, World Investment Advisors LLC lifted its position in shares of Bio-Techne by 4.8% during the 3rd quarter. World Investment Advisors LLC now owns 21,957 shares of the biotechnology company’s stock worth $1,755,000 after buying an additional 1,000 shares during the last quarter. 98.95% of the stock is currently owned by institutional investors and hedge funds.

Bio-Techne Stock Performance

Shares of NASDAQ TECH traded up $0.47 during midday trading on Monday, reaching $76.16. The company had a trading volume of 560,879 shares, compared to its average volume of 1,008,192. The stock has a market cap of $12.10 billion, a P/E ratio of 81.02, a P/E/G ratio of 5.52 and a beta of 1.27. Bio-Techne has a 1 year low of $61.16 and a 1 year high of $85.57. The business’s 50-day simple moving average is $73.39 and its 200 day simple moving average is $74.57. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $289.46 million for the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a net margin of 12.86% and a return on equity of 12.76%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts forecast that Bio-Techne will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their target price on shares of Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Scotiabank boosted their target price on shares of Bio-Techne from $83.00 to $88.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Bio-Techne currently has an average rating of “Moderate Buy” and a consensus target price of $82.00.

About Bio-Techne

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.