Wells Fargo Begins Coverage on Bio-Techne Corp (TECH) With A Rating Of “Market Perform”

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Bio-Techne Corp (NASDAQ:TECH).

Equity analyst Wells Fargo initiated coverage with an initial rating of “Market Perform”.

In the market the company is trading down by 0.34% percent from yesterday’s close. The stock last traded at $123.46 a tad above $122.06, the 50 day moving average and just a bit higher than the 200 day moving average of $115.43. The 50 day moving average moved up $1.40 whereas the 200 day moving average was up $8.03 or +6.96%.

Bio-Techne Corporation, launched on July 17, 1981, develops, manufactures and sells biotechnology reagents and instruments for the research and clinical diagnostic markets. The Company operates through three segments: Biotechnology, Clinical Controls and Protein Platforms. The Biotechnology segment develops, manufactures and sells biotechnology research and diagnostic products across the world. The Clinical Controls segment develops and manufactures controls, calibrators, immunoassays and other reagents for the global clinical market. The Protein Platforms segment develops and commercializes systems and consumables for protein analysis..

The P/E ratio is 60.82 and the market cap is 4.62B. In the latest earnings report the EPS was $2.03 and is estimated to be $3.99 for the current year with 37,382,000 shares now outstanding. Next quarter’s EPS is expected be $0.92 with next year’s EPS projected to be $4.39.

Traders are a little more bullish on Bio-Techne Corp lately if you consider the downtick in short interest. The stock recorded a fall in short interest of -5.17% as of the latest report on September 29, 2017. Short interest fell 73,814 over that timeframe. With short interest at 1,355,080 and short average daily volume at 143,786, days to cover is 9.0 and the percentage of shorted shares is 0.04% as of September 29.

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