Insider Buying: Meridian Bioscience Inc. (VIVO) EVP Acquires $78,400.00 in Stock
Meridian Bioscience Inc. (NASDAQ:VIVO) EVP Lawrence Baldini acquired 4,900 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was bought at an average cost of $16.00 per share, with a total value of $78,400.00. Following the purchase, the executive vice president now owns 95,501 shares in the company, valued at $1,528,016. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) opened at 16.95 on Thursday. Meridian Bioscience Inc. has a 52-week low of $15.75 and a 52-week high of $21.49. The firm has a market capitalization of $713.36 million, a PE ratio of 20.18 and a beta of 0.94. The stock’s 50 day moving average is $18.03 and its 200 day moving average is $19.07.
A number of institutional investors have recently modified their holdings of VIVO. California State Teachers Retirement System boosted its position in shares of Meridian Bioscience by 0.9% in the third quarter. California State Teachers Retirement System now owns 88,249 shares of the company’s stock valued at $1,702,000 after buying an additional 800 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Meridian Bioscience by 14.5% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 53,870 shares of the company’s stock worth $1,039,000 after buying an additional 6,810 shares in the last quarter. Hancock Holding Co. boosted its position in Meridian Bioscience by 5.6% in the third quarter. Hancock Holding Co. now owns 42,945 shares of the company’s stock worth $828,000 after buying an additional 2,279 shares in the last quarter. SG Americas Securities LLC bought a new position in Meridian Bioscience during the third quarter worth approximately $235,000. Finally, Ameriprise Financial Inc. boosted its position in Meridian Bioscience by 4.1% in the third quarter. Ameriprise Financial Inc. now owns 218,967 shares of the company’s stock worth $4,223,000 after buying an additional 8,687 shares in the last quarter. 86.99% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Hilliard Lyons downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $20.00 price target on shares of Meridian Bioscience in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Meridian Bioscience presently has a consensus rating of “Hold” and an average target price of $20.00.
About Meridian Bioscience
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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