New York State Teachers Retirement System continued to hold its position in Meridian Bioscience Inc. (NASDAQ:VIVO) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 149,801 shares of the company’s stock at the end of the second quarter. New York State Teachers Retirement System’s holdings in Meridian Bioscience were worth $2,921,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in VIVO. BNP Paribas Arbitrage SA increased its stake in shares of Meridian Bioscience by 101.2% in the second quarter. BNP Paribas Arbitrage SA now owns 14,073 shares of the company’s stock valued at $274,000 after buying an additional 7,077 shares during the period. Aperio Group LLC increased its stake in shares of Meridian Bioscience by 23.0% in the first quarter. Aperio Group LLC now owns 15,942 shares of the company’s stock valued at $329,000 after buying an additional 2,986 shares during the period. Zebra Capital Management LLC increased its stake in shares of Meridian Bioscience by 23.9% in the first quarter. Zebra Capital Management LLC now owns 24,898 shares of the company’s stock valued at $513,000 after buying an additional 4,802 shares during the period. Eqis Capital Management Inc. increased its stake in shares of Meridian Bioscience by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 31,340 shares of the company’s stock valued at $611,000 after buying an additional 887 shares during the period. Finally, Naples Global Advisors LLC increased its stake in shares of Meridian Bioscience by 9.3% in the second quarter. Naples Global Advisors LLC now owns 55,922 shares of the company’s stock valued at $1,090,000 after buying an additional 4,750 shares during the period. Hedge funds and other institutional investors own 88.04% of the company’s stock.
Meridian Bioscience Inc. (NASDAQ:VIVO) traded up 1.06% on Wednesday, hitting $19.15. 90,555 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $19.31 and its 200-day moving average price is $19.60. The company has a market cap of $805.95 million, a PE ratio of 22.80 and a beta of 0.97. Meridian Bioscience Inc. has a 12-month low of $17.42 and a 12-month high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The company earned $50.70 million during the quarter, compared to analysts’ expectations of $52.85 million. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. Meridian Bioscience’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. Analysts forecast that Meridian Bioscience Inc. will post $0.86 earnings per share for the current year.
VIVO has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Canaccord Genuity restated a “hold” rating and issued a $20.00 target price on shares of Meridian Bioscience in a research note on Monday, August 1st. Finally, Hilliard Lyons downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.25.
Meridian Bioscience Company Profile
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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