PineBridge Investments L.P. held its position in Meridian Bioscience Inc. (NASDAQ:VIVO) during the second quarter, Holdings Channel reports. The fund owned 5,138 shares of the company’s stock at the end of the second quarter. PineBridge Investments L.P.’s holdings in Meridian Bioscience were worth $100,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of VIVO. Eqis Capital Management Inc. increased its position in Meridian Bioscience by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 31,340 shares of the company’s stock worth $611,000 after buying an additional 887 shares in the last quarter. Capstone Asset Management Co. increased its position in Meridian Bioscience by 2.4% in the second quarter. Capstone Asset Management Co. now owns 235,439 shares of the company’s stock worth $4,591,000 after buying an additional 5,473 shares in the last quarter. Naples Global Advisors LLC increased its position in Meridian Bioscience by 9.3% in the second quarter. Naples Global Advisors LLC now owns 55,922 shares of the company’s stock worth $1,090,000 after buying an additional 4,750 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 worth $274,000 after buying an additional 7,077 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Meridian Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 1,710,600 shares of the company’s stock worth $35,255,000 after buying an additional 136,024 shares in the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
Meridian Bioscience Inc. (NASDAQ:VIVO) opened at 19.07 on Friday. The stock’s 50 day moving average price is $19.30 and its 200 day moving average price is $19.62. The company has a market capitalization of $802.58 million, a P/E ratio of 22.70 and a beta of 0.97. Meridian Bioscience Inc. has a 52 week low of $17.42 and a 52 week high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. The business had revenue of $50.70 million for 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%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. Analysts anticipate that Meridian Bioscience Inc. will post $0.86 earnings per share for the current year.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Hilliard Lyons downgraded Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $20.00 target price on shares of Meridian Bioscience in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Meridian Bioscience presently has a consensus rating of “Hold” and a consensus price target of $21.25.
About Meridian Bioscience
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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