Coastal Capital Group Inc. Buys Shares of 2,064 Meridian Bioscience, Inc. (NASDAQ:VIVO)

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Coastal Capital Group Inc. bought a new stake in Meridian Bioscience, Inc. (NASDAQ:VIVO) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,064 shares of the company’s stock, valued at approximately $25,000.

A number of other hedge funds also recently bought and sold shares of the business. Systematic Financial Management LP lifted its holdings in shares of Meridian Bioscience by 3.9% during the second quarter. Systematic Financial Management LP now owns 1,193,188 shares of the company’s stock worth $14,175,000 after buying an additional 44,769 shares during the last quarter. Financial Gravity Wealth Inc. bought a new stake in shares of Meridian Bioscience during the second quarter valued at approximately $29,000. Eqis Capital Management Inc. bought a new stake in shares of Meridian Bioscience during the second quarter valued at approximately $367,000. 6 Meridian increased its position in shares of Meridian Bioscience by 4.9% during the second quarter. 6 Meridian now owns 42,384 shares of the company’s stock valued at $504,000 after purchasing an additional 1,964 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in shares of Meridian Bioscience during the second quarter valued at approximately $336,000. Institutional investors own 89.69% of the company’s stock.

In related news, Director James M. Anderson purchased 5,000 shares of the stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $11.37 per share, for a total transaction of $56,850.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

VIVO has been the topic of a number of research reports. BidaskClub upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. ValuEngine cut Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies upgraded Meridian Bioscience from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $11.00 in a research report on Wednesday, May 1st. Canaccord Genuity restated a “sell” rating and set a $9.00 price objective on shares of Meridian Bioscience in a research report on Wednesday, July 31st. Finally, Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.25.

VIVO opened at $10.70 on Wednesday. The company has a market capitalization of $471.54 million, a PE ratio of 14.46 and a beta of 0.32. The company has a current ratio of 6.93, a quick ratio of 4.75 and a debt-to-equity ratio of 0.40. Meridian Bioscience, Inc. has a 1 year low of $10.67 and a 1 year high of $19.84. The company’s 50 day moving average price is $11.52.

Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $49.81 million. Meridian Bioscience had a return on equity of 17.82% and a net margin of 12.65%. Meridian Bioscience’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. Analysts anticipate that Meridian Bioscience, Inc. will post 0.64 earnings per share for the current year.

Meridian Bioscience Company Profile

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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Institutional Ownership by Quarter for Meridian Bioscience (NASDAQ:VIVO)

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