Principal Financial Group Inc. Cuts Stake in Meridian Bioscience Inc. (VIVO)
Principal Financial Group Inc. lessened its position in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 334,491 shares of the company’s stock after selling 1,155 shares during the quarter. Principal Financial Group Inc. owned approximately 0.79% of Meridian Bioscience worth $5,268,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Meridian Bioscience in the 1st quarter worth about $105,000. BNP Paribas Arbitrage SA grew its stake in Meridian Bioscience by 12.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the company’s stock valued at $119,000 after acquiring an additional 960 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Meridian Bioscience by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,273 shares of the company’s stock valued at $130,000 after acquiring an additional 3,613 shares during the last quarter. Mason Street Advisors LLC grew its stake in Meridian Bioscience by 7.2% in the 1st quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock valued at $136,000 after acquiring an additional 667 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in Meridian Bioscience by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock valued at $157,000 after acquiring an additional 370 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
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VIVO has been the subject of several recent research reports. BidaskClub downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.75.
In other Meridian Bioscience news, Chairman John A. Kraeutler acquired 7,000 shares of the stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of $13.67 per share, with a total value of $95,690.00. Following the purchase, the chairman now directly owns 345,230 shares of the company’s stock, valued at approximately $4,719,294.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.30% of the company’s stock.
Meridian Bioscience Inc. (NASDAQ:VIVO) opened at 14.40 on Tuesday. The firm’s 50-day moving average price is $13.98 and its 200 day moving average price is $14.26. The stock has a market cap of $607.72 million, a P/E ratio of 28.80 and a beta of 0.84. Meridian Bioscience Inc. has a 52-week low of $10.75 and a 52-week high of $19.75.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly 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 company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. During the same period in the prior year, the company earned $0.21 EPS. Meridian Bioscience’s revenue was down 1.0% on a year-over-year basis. Equities analysts predict that Meridian Bioscience Inc. will post $0.67 earnings per share for the current year.
Meridian Bioscience 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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