Meridian Bioscience Inc. (NASDAQ:VIVO) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System reduced its position in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,600 shares of the company’s stock after selling 1,900 shares during the period. California Public Employees Retirement System’s holdings in Meridian Bioscience were worth $1,181,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in Meridian Bioscience by 12.5% in the first quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the company’s stock worth $119,000 after buying an additional 960 shares during the period. Mason Street Advisors LLC increased its position in Meridian Bioscience by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock worth $136,000 after buying an additional 667 shares during the period. OppenheimerFunds Inc. bought a new position in Meridian Bioscience during the first quarter worth about $161,000. Bank of Montreal Can increased its position in Meridian Bioscience by 1,690.1% in the first quarter. Bank of Montreal Can now owns 12,280 shares of the company’s stock worth $169,000 after buying an additional 11,594 shares during the period. Finally, UBS Asset Management Americas Inc. bought a new position in Meridian Bioscience during the first quarter worth about $179,000. 85.83% of the stock is owned by institutional investors and hedge funds.
Meridian Bioscience Inc. (NASDAQ VIVO) opened at 13.60 on Thursday. The firm’s 50-day moving average price is $14.93 and its 200-day moving average price is $14.02. Meridian Bioscience Inc. has a 1-year low of $10.75 and a 1-year high of $19.85. The firm has a market cap of $573.95 million, a P/E ratio of 27.20 and a beta of 0.89.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The business had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts anticipate that Meridian Bioscience Inc. will post $0.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, August 3rd. Meridian Bioscience’s dividend payout ratio is 98.04%.
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A number of equities analysts have issued reports on the company. BidaskClub downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Canaccord Genuity lifted their price target on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Meridian Bioscience presently has an average rating of “Hold” and an average 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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