Nationwide Fund Advisors boosted its holdings in Meridian Bioscience Inc. (NASDAQ:VIVO) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,386 shares of the company’s stock after purchasing an additional 131 shares during the quarter. Nationwide Fund Advisors owned about 0.42% of Meridian Bioscience worth $2,794,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new stake in Meridian Bioscience in the 1st quarter valued at $507,000. Highbridge Capital Management LLC purchased a new stake in Meridian Bioscience in the 1st quarter valued at $1,279,000. Citadel Advisors LLC raised its position in Meridian Bioscience by 142.8% in the 1st quarter. Citadel Advisors LLC now owns 166,326 shares of the company’s stock valued at $2,295,000 after purchasing an additional 97,822 shares during the last quarter. Prudential Financial Inc. raised its position in Meridian Bioscience by 280.6% in the 2nd quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock valued at $4,305,000 after purchasing an additional 201,519 shares during the last quarter. Finally, Aperio Group LLC raised its position in Meridian Bioscience by 40.0% in the 2nd quarter. Aperio Group LLC now owns 51,385 shares of the company’s stock valued at $809,000 after purchasing an additional 14,682 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.
In other Meridian Bioscience news, Chairman John A. Kraeutler acquired 7,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average price of $13.67 per share, with a total value of $95,690.00. Following the completion of the acquisition, the chairman now directly owns 345,230 shares in the company, valued at approximately $4,719,294.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.
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Several research firms recently commented on VIVO. BidaskClub downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $14.00 price target on shares of Meridian Bioscience in a research report on Friday. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Meridian Bioscience has an average rating of “Hold” and a consensus price target of $14.00.
Shares of Meridian Bioscience Inc. (VIVO) opened at 14.95 on Friday. Meridian Bioscience Inc. has a 52-week low of $10.75 and a 52-week high of $19.10. The stock has a market cap of $630.93 million, a P/E ratio of 29.90 and a beta of 0.84. The company has a 50-day moving average of $14.18 and a 200 day moving average of $14.33.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The firm had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. Equities research analysts forecast that Meridian Bioscience Inc. will post $0.67 EPS for the current fiscal year.
About Meridian Bioscience
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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