TIAA CREF Investment Management LLC Has $1.57 Million Position in Meridian Bioscience Inc. (NASDAQ:VIVO)
TIAA CREF Investment Management LLC decreased its position in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 5.8% during the first quarter, Holdings Channel reports. The institutional investor owned 113,914 shares of the company’s stock after selling 7,013 shares during the period. TIAA CREF Investment Management LLC’s holdings in Meridian Bioscience were worth $1,572,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Systematic Financial Management LP raised its position in shares of Meridian Bioscience by 37.9% in the first quarter. Systematic Financial Management LP now owns 139,132 shares of the company’s stock worth $1,920,000 after buying an additional 38,265 shares in the last quarter. FMR LLC raised its position in shares of Meridian Bioscience by 148.5% in the first quarter. FMR LLC now owns 353,141 shares of the company’s stock worth $4,873,000 after buying an additional 211,023 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Meridian Bioscience by 3.7% in the first quarter. Principal Financial Group Inc. now owns 335,646 shares of the company’s stock worth $4,632,000 after buying an additional 11,966 shares in the last quarter. OppenheimerFunds Inc. bought a new position in shares of Meridian Bioscience during the first quarter worth approximately $161,000. Finally, Spark Investment Management LLC raised its position in shares of Meridian Bioscience by 214.4% in the first quarter. Spark Investment Management LLC now owns 102,483 shares of the company’s stock worth $1,414,000 after buying an additional 69,883 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.
Meridian Bioscience Inc. (NASDAQ VIVO) traded up 2.23% during mid-day trading on Friday, reaching $13.75. The company’s stock had a trading volume of 16,433 shares. The company has a 50 day moving average of $14.88 and a 200-day moving average of $14.01. The stock has a market cap of $580.28 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 results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Meridian Bioscience had a return on equity of 16.93% and a net margin of 10.77%. 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 business earned $0.21 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Meridian Bioscience Inc. will post $0.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, August 3rd. Meridian Bioscience’s payout ratio is 98.04%.
A number of brokerages have recently commented on VIVO. BidaskClub lowered Meridian Bioscience from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Canaccord Genuity raised their target price on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.75.
Meridian Bioscience Company 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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