Bank of New York Mellon Corp boosted its position in shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 811,847 shares of the company’s stock after purchasing an additional 13,937 shares during the quarter. Bank of New York Mellon Corp owned about 1.91% of Meridian Bioscience worth $12,908,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in VIVO. Principal Financial Group Inc. grew its position in Meridian Bioscience by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 340,220 shares of the company’s stock valued at $4,831,000 after purchasing an additional 9,861 shares during the last quarter. Bank of Montreal Can lifted its stake in Meridian Bioscience by 835.1% during the 2nd quarter. Bank of Montreal Can now owns 53,468 shares of the company’s stock valued at $850,000 after acquiring an additional 47,750 shares during the period. Eqis Capital Management Inc. bought a new position in Meridian Bioscience during the 2nd quarter valued at about $283,000. Piedmont Investment Advisors LLC bought a new position in Meridian Bioscience during the 2nd quarter valued at about $157,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in Meridian Bioscience by 52.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,325 shares of the company’s stock valued at $1,086,000 after acquiring an additional 23,425 shares during the period. 90.16% of the stock is currently owned by institutional investors.
In other Meridian Bioscience news, EVP Lawrence Baldini sold 35,101 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $19.41, for a total transaction of $681,310.41. Following the transaction, the executive vice president now owns 76,129 shares in the company, valued at approximately $1,477,663.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.
VIVO opened at $18.35 on Friday. The company has a current ratio of 5.75, a quick ratio of 4.02 and a debt-to-equity ratio of 0.26. The stock has a market cap of $793.36 million, a price-to-earnings ratio of 24.80 and a beta of 0.58. Meridian Bioscience, Inc. has a 52-week low of $13.53 and a 52-week high of $19.84.
Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The business had revenue of $213.60 million for the quarter, compared to analysts’ expectations of $51.11 million. Meridian Bioscience had a net margin of 11.17% and a return on equity of 18.18%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. As a group, analysts expect that Meridian Bioscience, Inc. will post 0.75 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Monday, November 19th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, November 16th. Meridian Bioscience’s dividend payout ratio is currently 67.57%.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Meridian Bioscience from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research note on Saturday, November 10th. BidaskClub upgraded shares of Meridian Bioscience from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 13th. Finally, ValuEngine upgraded shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. One analyst has rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Meridian Bioscience currently has an average rating of “Buy” and an average target price of $19.50.
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Meridian Bioscience Profile
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.
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