Wells Fargo & Company MN Buys 5,402 Shares of Meridian Bioscience, Inc. (NASDAQ:VIVO)

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Wells Fargo & Company MN lifted its stake in Meridian Bioscience, Inc. (NASDAQ:VIVO) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 398,582 shares of the company’s stock after buying an additional 5,402 shares during the period. Wells Fargo & Company MN’s holdings in Meridian Bioscience were worth $4,735,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VIVO. Coastal Capital Group Inc. acquired a new position in shares of Meridian Bioscience during the 2nd quarter worth about $25,000. Financial Gravity Wealth Inc. acquired a new position in shares of Meridian Bioscience during the 2nd quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in shares of Meridian Bioscience by 710.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 12,580 shares of the company’s stock worth $150,000 after purchasing an additional 11,028 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Meridian Bioscience by 298.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,688 shares of the company’s stock worth $171,000 after buying an additional 7,258 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Meridian Bioscience during the 1st quarter worth about $246,000. 88.50% of the stock is owned by hedge funds and other institutional investors.

Shares of VIVO traded up $0.01 during trading hours on Thursday, hitting $9.67. The company’s stock had a trading volume of 3,207 shares, compared to its average volume of 211,173. The company has a market cap of $426.69 million, a price-to-earnings ratio of 13.08 and a beta of 0.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.93 and a quick ratio of 4.75. The business has a 50 day simple moving average of $10.13 and a two-hundred day simple moving average of $12.23. Meridian Bioscience, Inc. has a 52-week low of $8.96 and a 52-week high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. The company had revenue of $48.40 million during the quarter, compared to analyst estimates of $49.81 million. During the same period last year, the business earned $0.18 earnings per share. Meridian Bioscience’s revenue was down 6.4% compared to the same quarter last year. Research analysts predict that Meridian Bioscience, Inc. will post 0.64 earnings per share for the current year.

A number of analysts have issued reports on VIVO shares. BidaskClub raised shares of Meridian Bioscience from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. ValuEngine lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Zacks Investment Research lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Finally, Canaccord Genuity reissued a “sell” rating and set a $9.00 target price on shares of Meridian Bioscience in a research note on Wednesday, July 31st. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $13.25.

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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