Bio-Techne Co. (NASDAQ:TECH) Short Interest Sees Significant Increase in November

Bio-Techne Co. (NASDAQ:TECH) experienced a notable rise in short interest throughout November. As of November 30th, short interest increased to 4,080,000 shares, marking a 15.6% rise from the 3,530,000 shares reported on November 15th. Given the average daily trading volume of 927,100 shares, the current short-interest ratio stands at 4.4 days.

Institutional Trading of Bio-Techne

Recent activity from institutional investors has seen several firms adjust their holdings in Bio-Techne. State Street Corp raised its stake by 1.5% in the third quarter, owning a total of 6,395,993 shares valued at approximately $511,232,000 after acquiring an additional 95,133 shares. Mackenzie Financial Corp also increased its position by 8.2% during the second quarter, now holding 2,862,260 shares worth $205,081,000 after buying another 216,044 shares.

Massachusetts Financial Services Co. MA improved its position by 3.5% during the second quarter, bringing its total to 2,589,799 shares valued at $185,559,000 after an addition of 88,257 shares. Furthermore, Point72 Asset Management L.P. took a new position in Bio-Techne valued at about $89,724,000 in the third quarter. American Capital Management Inc. also grew its stake by 2.5% during the third quarter, owning 1,114,393 shares now worth $89,073,000 after purchasing an additional 27,508 shares. Overall, institutional investors and hedge funds collectively own 98.95% of the company's shares.

Bio-Techne's Stock Performance

On the trading day last Friday, Bio-Techne's stock fell by $0.99, reaching a price of $75.69 with 487,423 shares traded, compared to an average volume of 947,043. The company's market capitalization is estimated at $12.03 billion, with a price-to-earnings (P/E) ratio of 80.52, a price/earnings to growth (PEG) ratio of 5.52, and a beta of 1.27. The firm holds a quick ratio of 3.26 and a current ratio of 4.56, with a debt-to-equity ratio of 0.14. Bio-Techne has recorded a fifty-two-week low of $61.16 and a high of $85.57.

For its latest earnings report released on October 30th, Bio-Techne reported earnings of $0.42 per share for the quarter, which surpassed the consensus estimate of $0.38 by $0.04. The company's net margin was recorded at 12.86%, with a return on equity of 12.76%. Revenue reached $289.46 million for the quarter, exceeding analysts' expectations of $280.22 million. Compared to the same period last year, the revenue saw a year-over-year increase of 4.5%. Analysts predict that Bio-Techne will show earnings of 1.68 per share for the current fiscal year.

Dividend Announcement from Bio-Techne

Bio-Techne recently confirmed a quarterly dividend, which was distributed on Friday, November 22nd. Shareholders who were recorded as active on Monday, November 11th, received a dividend payment of $0.08. This dividend payment represents an annualized total of $0.32, resulting in a yield of 0.42%. The company has a current payout ratio of 34.04%.

Wall Street Analysts Predict Positive Growth

Several analysts have provided updates on Bio-Techne's stock. Robert W. Baird increased their target price from $82.00 to $84.00 and assigned an "outperform" rating in a report dated October 31st. StockNews.com elevated the company's rating from "hold" to "buy" in a research note published on November 12th. Scotiabank also raised their target price from $83.00 to $88.00, giving an "outperform" rating in a report on October 31st. Currently, three analysts rate the stock as hold, while six rate it as a buy, giving the company an overall consensus rating of "Moderate Buy" based on analysts' predictions with a price target averaging $82.00.

Additional Information About Bio-Techne

Bio-Techne Corporation, along with its subsidiaries, specializes in the development, manufacturing, and provision of life science reagents, instruments, and services directed at research and clinical diagnostics industries across several regions, including the United States, the United Kingdom, Europe, the Middle East, Africa, Greater China, and Asia-Pacific.

Bio-Techne, short, investors