Prudential Financial Inc. Has $4.75 Million Holdings in Meridian Bioscience Inc. (VIVO)
Prudential Financial Inc. grew its stake in Meridian Bioscience Inc. (NASDAQ:VIVO) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,210 shares of the company’s stock after buying an additional 58,880 shares during the quarter. Prudential Financial Inc. owned approximately 0.79% of Meridian Bioscience worth $4,751,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Meridian Bioscience by 24.9% in the second quarter. Advisor Group Inc. now owns 7,720 shares of the company’s stock worth $122,000 after acquiring an additional 1,537 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Meridian Bioscience by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 8,273 shares of the company’s stock worth $130,000 after acquiring an additional 3,613 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Meridian Bioscience by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock worth $157,000 after acquiring an additional 370 shares during the period. Petrus Trust Company LTA bought a new position in shares of Meridian Bioscience in the second quarter worth about $178,000. Finally, Leucadia National Corp bought a new position in shares of Meridian Bioscience in the second quarter worth about $197,000. Institutional investors and hedge funds own 86.98% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Meridian Bioscience in a research note on Friday, October 13th. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub lowered Meridian Bioscience from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.50.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Meridian Bioscience had a return on equity of 17.07% and a net margin of 10.74%. The company had revenue of $49.70 million during the quarter, compared to analyst estimates of $48.28 million. During the same period in the prior year, the company earned $0.14 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. equities analysts anticipate that Meridian Bioscience Inc. will post 0.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, November 17th. Meridian Bioscience’s payout ratio is presently 98.04%.
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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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