BTIM Corp. reduced its stake in Meridian Bioscience Inc. (NASDAQ:VIVO) by 24.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 709,363 shares of the company’s stock after selling 226,227 shares during the period. BTIM Corp. owned 1.68% of Meridian Bioscience worth $11,173,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. First Quadrant L P CA acquired a new position in shares of Meridian Bioscience during the second quarter worth $261,000. Aperio Group LLC boosted its position in shares of Meridian Bioscience by 40.0% in the second quarter. Aperio Group LLC now owns 51,385 shares of the company’s stock worth $809,000 after buying an additional 14,682 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Meridian Bioscience by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 8,273 shares of the company’s stock worth $130,000 after buying an additional 3,613 shares during the period. Lapides Asset Management LLC acquired a new position in shares of Meridian Bioscience during the first quarter worth $391,000. Finally, Credit Suisse AG boosted its position in shares of Meridian Bioscience by 101.7% in the first quarter. Credit Suisse AG now owns 154,400 shares of the company’s stock worth $2,130,000 after buying an additional 77,859 shares during the period. 86.50% of the stock is currently owned by institutional investors.
Meridian Bioscience Inc. (NASDAQ:VIVO) traded down 0.36% during midday trading on Wednesday, hitting $13.75. 148,962 shares of the company’s stock traded hands. The company has a 50 day moving average of $14.69 and a 200-day moving average of $14.00. The company has a market capitalization of $580.29 million, a PE ratio of 27.50 and a beta of 0.89. Meridian Bioscience Inc. has a 52 week low of $10.75 and a 52 week high of $19.85.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $50.14 million during the quarter, compared to analysts’ expectations of $49.13 million. Meridian Bioscience had a return on equity of 16.93% and a net margin of 10.77%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. Equities research analysts predict that Meridian Bioscience Inc. will post $0.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.50 annualized dividend and a dividend yield of 3.64%. Meridian Bioscience’s payout ratio is 98.04%.
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Several research analysts have recently issued reports on VIVO shares. BidaskClub downgraded shares of Meridian Bioscience from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Canaccord Genuity upped their price target on shares of Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Saturday, April 29th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.75.
About Meridian Bioscience
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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