Connor Clark & Lunn Investment Management Ltd. raised its stake in Meridian Bioscience, Inc. (NASDAQ:VIVO) by 40.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,750 shares of the company’s stock after buying an additional 27,425 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.23% of Meridian Bioscience worth $1,427,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Meridian Bioscience by 5.6% in the 3rd quarter. BlackRock Inc. now owns 6,228,616 shares of the company’s stock worth $92,806,000 after buying an additional 327,584 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Meridian Bioscience by 9.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock worth $41,837,000 after buying an additional 220,500 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Meridian Bioscience by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,886,692 shares of the company’s stock worth $28,112,000 after buying an additional 58,358 shares during the last quarter. Systematic Financial Management LP increased its holdings in shares of Meridian Bioscience by 0.8% in the 3rd quarter. Systematic Financial Management LP now owns 1,140,424 shares of the company’s stock worth $16,992,000 after buying an additional 8,709 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Meridian Bioscience by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 821,462 shares of the company’s stock worth $12,239,000 after buying an additional 9,615 shares during the last quarter. 90.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on VIVO. Zacks Investment Research raised shares of Meridian Bioscience from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a report on Saturday, November 10th. BidaskClub raised shares of Meridian Bioscience from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 13th. Finally, ValuEngine raised shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Monday, October 29th. One research analyst has rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company. Meridian Bioscience presently has a consensus rating of “Buy” and an average target price of $19.50.
In related news, EVP Lawrence Baldini sold 35,101 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $1,477,663.89. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.
VIVO stock opened at $18.35 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.02 and a current ratio of 5.75. Meridian Bioscience, Inc. has a 52 week low of $13.53 and a 52 week high of $19.84. The firm has a market cap of $793.36 million, a P/E ratio of 24.80 and a beta of 0.58.
Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, November 8th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Meridian Bioscience had a net margin of 11.17% and a return on equity of 18.18%. The company had revenue of $213.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts expect that Meridian Bioscience, Inc. will post 0.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Monday, November 19th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend 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%.
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Meridian Bioscience Company 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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