Systematic Financial Management LP cut its holdings in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,722 shares of the company’s stock after selling 25,410 shares during the period. Systematic Financial Management LP owned about 0.27% of Meridian Bioscience worth $1,791,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VIVO. Wells Fargo & Company MN lifted its stake in Meridian Bioscience by 50.2% during the first quarter. Wells Fargo & Company MN now owns 767,606 shares of the company’s stock worth $10,593,000 after purchasing an additional 256,571 shares during the last quarter. FMR LLC lifted its stake in Meridian Bioscience by 148.5% during the first quarter. FMR LLC now owns 353,141 shares of the company’s stock worth $4,873,000 after purchasing an additional 211,023 shares during the last quarter. Prudential Financial Inc. lifted its stake in Meridian Bioscience by 280.6% during the second quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock worth $4,305,000 after purchasing an additional 201,519 shares during the last quarter. State Street Corp lifted its stake in Meridian Bioscience by 15.2% during the first quarter. State Street Corp now owns 1,243,847 shares of the company’s stock worth $17,164,000 after purchasing an additional 163,770 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in Meridian Bioscience during the first quarter worth $1,954,000. Hedge funds and other institutional investors own 87.27% of the company’s stock.
Several research firms have weighed in on VIVO. Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub cut Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Meridian Bioscience has an average rating of “Hold” and a consensus price target of $14.75.
Meridian Bioscience Inc. (NASDAQ VIVO) opened at 14.25 on Friday. Meridian Bioscience Inc. has a 52 week low of $10.75 and a 52 week high of $19.85. The stock has a 50 day moving average price of $13.83 and a 200-day moving average price of $14.15. The company has a market capitalization of $601.39 million, a PE ratio of 28.50 and a beta of 0.86.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $50.14 million during the quarter, compared to analyst estimates of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. On average, equities analysts predict that Meridian Bioscience Inc. will post $0.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 7th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, August 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.51%. Meridian Bioscience’s dividend payout ratio (DPR) is currently 98.04%.
In other news, Chairman John A. Kraeutler purchased 7,000 shares of Meridian Bioscience stock in a transaction dated Thursday, August 24th. The stock was purchased at an average cost of $13.67 per share, for a total transaction of $95,690.00. Following the transaction, the chairman now directly owns 345,230 shares of the company’s stock, valued at $4,719,294.10. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.
Meridian Bioscience Profile
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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