Russell Investments Group Ltd. Has $770,000 Stake in Meridian Bioscience, Inc. (VIVO)
Russell Investments Group Ltd. grew its position in Meridian Bioscience, Inc. (NASDAQ:VIVO) by 35.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,856 shares of the company’s stock after purchasing an additional 14,184 shares during the period. Russell Investments Group Ltd. owned about 0.13% of Meridian Bioscience worth $770,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Advisor Group Inc. increased its holdings in Meridian Bioscience by 24.9% during the second quarter. Advisor Group Inc. now owns 7,720 shares of the company’s stock worth $122,000 after buying an additional 1,537 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Meridian Bioscience by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock worth $157,000 after buying an additional 370 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in Meridian Bioscience during the second quarter worth about $178,000. Eqis Capital Management Inc. purchased a new stake in Meridian Bioscience during the third quarter worth about $184,000. Finally, UBS Asset Management Americas Inc. increased its holdings in Meridian Bioscience by 0.7% during the second quarter. UBS Asset Management Americas Inc. now owns 13,091 shares of the company’s stock worth $206,000 after buying an additional 92 shares during the last quarter. Institutional investors own 86.82% of the company’s stock.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Tuesday, October 24th. Canaccord Genuity restated a “hold” rating and set a $14.00 price objective on shares of Meridian Bioscience in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of “Hold” and an average target price of $11.50.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $49.70 million during the quarter, compared to the consensus estimate of $48.28 million. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.03%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. analysts forecast that Meridian Bioscience, Inc. will post 0.66 EPS for the current fiscal year.
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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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