Meridian Bioscience, Inc. (VIVO) Stake Lowered by Prudential Financial Inc.

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Prudential Financial Inc. reduced its holdings in Meridian Bioscience, Inc. (NASDAQ:VIVO) by 53.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,480 shares of the company’s stock after selling 132,050 shares during the quarter. Prudential Financial Inc. owned approximately 0.27% of Meridian Bioscience worth $1,691,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Meridian Bioscience in the 2nd quarter worth approximately $119,000. Robecosam AG boosted its holdings in shares of Meridian Bioscience by 194.3% in the 3rd quarter. Robecosam AG now owns 10,300 shares of the company’s stock worth $153,000 after acquiring an additional 6,800 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Meridian Bioscience in the 2nd quarter worth approximately $162,000. SG Americas Securities LLC boosted its holdings in shares of Meridian Bioscience by 60.0% in the 2nd quarter. SG Americas Securities LLC now owns 11,742 shares of the company’s stock worth $187,000 after acquiring an additional 4,404 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Meridian Bioscience by 40.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,248 shares of the company’s stock worth $285,000 after acquiring an additional 5,505 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

VIVO opened at $17.53 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.75 and a quick ratio of 4.02. Meridian Bioscience, Inc. has a 12 month low of $13.53 and a 12 month high of $19.84. The firm has a market capitalization of $740.78 million, a P/E ratio of 23.69 and a beta of 0.57.

Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Thursday, November 8th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.04. Meridian Bioscience had a net margin of 11.17% and a return on equity of 18.18%. The business had revenue of $213.60 million during the quarter, compared to analysts’ expectations of $51.11 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Meridian Bioscience, Inc. will post 0.75 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Monday, November 19th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, November 16th. Meridian Bioscience’s dividend payout ratio is currently 67.57%.

In related news, EVP Lawrence Baldini sold 35,101 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $19.41, for a total value of $681,310.41. Following the completion of the sale, the executive vice president now owns 76,129 shares in the company, valued at approximately $1,477,663.89. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

VIVO has been the topic of several research reports. BidaskClub raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Friday, August 24th. ValuEngine raised Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of Meridian Bioscience from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research report on Saturday, November 10th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.50.

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About Meridian Bioscience

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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Institutional Ownership by Quarter for Meridian Bioscience (NASDAQ:VIVO)

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