Tower Research Capital LLC TRC raised its stake in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 1,405.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,006 shares of the company’s stock after buying an additional 5,607 shares during the period. Tower Research Capital LLC TRC’s holdings in Meridian Bioscience were worth $117,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Virginia Retirement Systems ET AL acquired a new stake in Meridian Bioscience during the second quarter valued at $1,188,000. Dynamic Technology Lab Private Ltd acquired a new stake in Meridian Bioscience during the second quarter valued at $328,000. Vanguard Group Inc. raised its stake in Meridian Bioscience by 5.3% in the second quarter. Vanguard Group Inc. now owns 3,417,303 shares of the company’s stock valued at $66,637,000 after buying an additional 171,772 shares during the period. Principal Financial Group Inc. raised its stake in Meridian Bioscience by 2.7% in the second quarter. Principal Financial Group Inc. now owns 308,442 shares of the company’s stock valued at $6,014,000 after buying an additional 8,150 shares during the period. Finally, Prudential Financial Inc. raised its stake in Meridian Bioscience by 1.2% in the second quarter. Prudential Financial Inc. now owns 101,771 shares of the company’s stock valued at $1,985,000 after buying an additional 1,180 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) opened at 19.15 on Thursday. Meridian Bioscience Inc. has a 52 week low of $17.42 and a 52 week high of $21.49. The stock’s 50 day moving average price is $19.31 and its 200-day moving average price is $19.60. The firm has a market capitalization of $805.95 million, a price-to-earnings ratio of 22.80 and a beta of 0.97.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, July 28th. The company reported $0.21 EPS 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 business had revenue of $50.70 million for the quarter, compared to analysts’ expectations of $52.85 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts predict that Meridian Bioscience Inc. will post $0.86 earnings per share for the current year.
Several research firms recently weighed in on VIVO. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Tuesday. Canaccord Genuity reissued a “hold” rating and set a $20.00 price target on shares of Meridian Bioscience in a research note on Monday, August 1st. Finally, Hilliard Lyons lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Five equities research 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 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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