Cardinal Capital Management raised its stake in Meridian Bioscience Inc. (NASDAQ:VIVO) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,218 shares of the company’s stock after buying an additional 2,081 shares during the period. Cardinal Capital Management’s holdings in Meridian Bioscience were worth $667,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bartlett & Co. LLC increased its position in Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock valued at $112,000 after buying an additional 900 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in 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 in the last quarter. Aperio Group LLC increased its position in 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 in the last quarter. Greylin Investment Mangement Inc. purchased a new position in Meridian Bioscience during the second quarter valued at approximately $416,000. Finally, Zebra Capital Management LLC increased its position in 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 in the last quarter. 88.03% of the stock is owned by institutional investors and hedge funds.
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) traded down 0.58% during mid-day trading on Tuesday, hitting $18.98. The company’s stock had a trading volume of 142,556 shares. The stock has a 50-day moving average of $19.31 and a 200-day moving average of $19.64. The company has a market cap of $798.79 million, a PE ratio of 22.60 and a beta of 0.97. Meridian Bioscience Inc. has a 12-month low of $17.21 and a 12-month high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.01. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The company earned $50.70 million during the quarter, compared to analysts’ expectations of $52.85 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Meridian Bioscience Inc. will post $0.86 EPS for the current year.
Several research analysts recently commented on VIVO shares. Canaccord Genuity reissued a “hold” rating on shares of Meridian Bioscience in a research note on Wednesday, June 29th. Zacks Investment Research downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Finally, Hilliard Lyons downgraded Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price 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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