Fred Alger Management Inc. Acquires 2,200 Shares of Meridian Bioscience Inc. (VIVO)
Fred Alger Management Inc. lifted its holdings in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 620,591 shares of the company’s stock after buying an additional 2,200 shares during the period. Fred Alger Management Inc. owned 1.47% of Meridian Bioscience worth $9,774,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in VIVO. Vanguard Group Inc. grew its position in shares of Meridian Bioscience by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock valued at $63,299,000 after buying an additional 334,480 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Meridian Bioscience by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock valued at $26,271,000 after buying an additional 240,143 shares during the last quarter. FMR LLC grew its position in shares of Meridian Bioscience by 148.5% during the 1st quarter. FMR LLC now owns 353,141 shares of the company’s stock valued at $4,873,000 after buying an additional 211,023 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Meridian Bioscience by 280.6% during the 2nd quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock valued at $4,305,000 after buying an additional 201,519 shares during the last quarter. Finally, State Street Corp grew its position in shares of Meridian Bioscience by 15.2% during the 1st quarter. State Street Corp now owns 1,243,847 shares of the company’s stock valued at $17,164,000 after buying an additional 163,770 shares during the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman John A. Kraeutler bought 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average price of $13.67 per share, for a total transaction of $95,690.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.
Meridian Bioscience Inc. (NASDAQ VIVO) opened at 14.55 on Friday. Meridian Bioscience Inc. has a 52-week low of $10.75 and a 52-week high of $19.75. The firm has a 50-day moving average of $14.03 and a 200 day moving average of $14.27. The company has a market cap of $614.05 million, a PE ratio of 29.10 and a beta of 0.84.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $50.14 million during the quarter, compared to analysts’ expectations of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. Equities research analysts expect that Meridian Bioscience Inc. will post $0.67 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub downgraded shares of Meridian Bioscience from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Meridian Bioscience presently has a consensus rating of “Hold” and an average price target of $14.33.
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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