Ameriprise Financial Inc. increased its stake in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 210,280 shares of the company’s stock after buying an additional 7,285 shares during the period. Ameriprise Financial Inc. owned about 0.50% of Meridian Bioscience worth $4,101,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. 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. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Meridian Bioscience during the second quarter worth approximately $195,000. BNP Paribas Arbitrage SA boosted 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 worth $274,000 after buying an additional 7,077 shares during the last quarter. Aperio Group LLC boosted 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 worth $329,000 after buying an additional 2,986 shares during the last quarter. Finally, Princeton Alpha Management LP acquired a new stake in shares of Meridian Bioscience during the second quarter worth approximately $380,000. Institutional investors own 88.11% of the company’s stock.
Meridian Bioscience Inc. (NASDAQ:VIVO) traded down 7.24% on Wednesday, reaching $17.30. 104,271 shares of the company traded hands. The company has a 50-day moving average price of $19.25 and a 200-day moving average price of $19.53. The company has a market capitalization of $728.09 million, a P/E ratio of 20.60 and a beta of 0.97. Meridian Bioscience Inc. has a 12 month low of $17.00 and a 12 month high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $50.70 million for the quarter, compared to analyst estimates of $52.85 million. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. Meridian Bioscience’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. Equities research analysts expect that Meridian Bioscience Inc. will post $0.86 EPS for the current year.
VIVO has been the subject of a number of research reports. Zacks Investment Research cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Canaccord Genuity reaffirmed a “hold” rating and issued a $20.00 target price on shares of Meridian Bioscience in a report on Monday, August 1st. Finally, Hilliard Lyons cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Meridian Bioscience presently has an average rating of “Hold” and a consensus 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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