California Public Employees Retirement System lowered its position in Meridian Bioscience Inc. (NASDAQ:VIVO) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 93,100 shares of the company’s stock after selling 2,700 shares during the period. California Public Employees Retirement System owned about 0.22% of Meridian Bioscience worth $1,816,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake 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. BlackRock Institutional Trust Company N.A. raised its stake in Meridian Bioscience by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,118,070 shares of the company’s stock valued at $23,043,000 after buying an additional 15,697 shares during the period. Capstone Asset Management Co. raised its stake in Meridian Bioscience by 2.4% in the second quarter. Capstone Asset Management Co. now owns 235,439 shares of the company’s stock valued at $4,591,000 after buying an additional 5,473 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Meridian Bioscience during the second quarter valued at approximately $3,870,000. Finally, Mondrian Investment Partners LTD raised its stake in Meridian Bioscience by 13.2% in the second quarter. Mondrian Investment Partners LTD now owns 149,891 shares of the company’s stock valued at $2,923,000 after buying an additional 17,502 shares during the period. 88.03% of the stock is currently owned by institutional investors.
Meridian Bioscience Inc. (NASDAQ:VIVO) traded up 0.37% on Friday, hitting $19.14. 111,369 shares of the stock were exchanged. The company has a 50-day moving average of $19.30 and a 200-day moving average of $19.61. Meridian Bioscience Inc. has a 12 month low of $17.42 and a 12 month high of $21.49. The stock has a market cap of $805.53 million, a price-to-earnings ratio of 22.79 and a beta of 0.97.
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 analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $50.70 million for the quarter, compared to the consensus estimate of $52.85 million. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities analysts predict that Meridian Bioscience Inc. will post $0.86 EPS for the current year.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Canaccord Genuity reiterated a “hold” rating and issued a $20.00 price objective on shares of Meridian Bioscience in a research note on Monday, August 1st. Finally, Hilliard Lyons lowered shares of 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 stock. The stock currently has a consensus rating of “Hold” and a consensus target price 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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