Highbridge Capital Management LLC acquired a new position in Meridian Bioscience, Inc. (NASDAQ:VIVO) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,594 shares of the company’s stock, valued at approximately $223,000.
Several other large investors have also modified their holdings of VIVO. Russell Investments Group Ltd. lifted its stake in shares of Meridian Bioscience by 29.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 39,672 shares of the company’s stock worth $625,000 after purchasing an additional 8,954 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Meridian Bioscience by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock worth $157,000 after purchasing an additional 370 shares during the period. Texas Permanent School Fund lifted its stake in shares of Meridian Bioscience by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 30,813 shares of the company’s stock worth $485,000 after purchasing an additional 258 shares during the period. Cigna Investments Inc. New bought a new position in shares of Meridian Bioscience in the 2nd quarter worth approximately $241,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Meridian Bioscience by 2.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 401,992 shares of the company’s stock worth $6,332,000 after acquiring an additional 10,816 shares during the period. Hedge funds and other institutional investors own 87.01% of the company’s stock.
VIVO has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Canaccord Genuity restated a “hold” rating and set a $14.00 target price on shares of Meridian Bioscience in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.50.
Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, November 9th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.03%. The company had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $48.28 million. During the same quarter last year, the business earned $0.14 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. equities analysts forecast that Meridian Bioscience, Inc. will post 0.66 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, November 17th. Meridian Bioscience’s payout ratio is 98.04%.
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Meridian Bioscience Profile
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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