Schwab Charles Investment Management Inc. boosted its position in Meridian Bioscience Inc. (NASDAQ:VIVO) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,992 shares of the company’s stock after purchasing an additional 10,816 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.95% of Meridian Bioscience worth $6,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its position in shares of Meridian Bioscience by 148.5% during the 1st quarter. FMR LLC now owns 353,141 shares of the company’s stock valued at $4,873,000 after buying an additional 211,023 shares in the last quarter. State Street Corp raised its position in shares of Meridian Bioscience by 15.2% during the 1st quarter. State Street Corp now owns 1,243,847 shares of the company’s stock valued at $17,164,000 after buying an additional 163,770 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Meridian Bioscience during the 1st quarter valued at $1,954,000. Renaissance Technologies LLC raised its position in shares of Meridian Bioscience by 6.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,988,276 shares of the company’s stock valued at $27,438,000 after buying an additional 115,076 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Meridian Bioscience by 29.9% during the 1st quarter. Geode Capital Management LLC now owns 456,039 shares of the company’s stock valued at $6,293,000 after buying an additional 104,990 shares in the last quarter. Institutional investors and hedge funds own 87.30% of the company’s stock.
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Shares of Meridian Bioscience Inc. (VIVO) opened at 14.70 on Wednesday. Meridian Bioscience Inc. has a 52-week low of $10.75 and a 52-week high of $19.40. The stock has a market cap of $620.38 million, a PE ratio of 29.40 and a beta of 0.84. The stock’s 50 day moving average is $14.11 and its 200 day moving average is $14.32.
Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The firm had revenue of $50.14 million for the quarter, compared to the consensus estimate of $49.13 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts forecast that Meridian Bioscience Inc. will post $0.67 earnings per share for the current year.
In related news, Chairman John A. Kraeutler bought 7,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were purchased at an average price of $13.67 per share, with a total value of $95,690.00. Following the completion of the acquisition, the chairman now owns 345,230 shares of the company’s stock, valued at $4,719,294.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.
VIVO has been the topic of several research reports. BidaskClub cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Meridian Bioscience currently has a consensus rating of “Hold” and an average price target of $14.33.
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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