UBS Asset Management Americas Inc. Invests $179,000 in Meridian Bioscience Inc. (NASDAQ:VIVO)
UBS Asset Management Americas Inc. acquired a new stake in Meridian Bioscience Inc. (NASDAQ:VIVO) during the first quarter, Holdings Channel reports. The institutional investor acquired 12,999 shares of the company’s stock, valued at approximately $179,000.
A number of other large investors have also added to or reduced their stakes in VIVO. Russell Investments Group Ltd. acquired a new stake in Meridian Bioscience during the fourth quarter valued at about $592,000. FMR LLC purchased a new position in shares of Meridian Bioscience during the fourth quarter valued at $2,515,000. Thrivent Financial for Lutherans increased its position in shares of Meridian Bioscience by 6.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 22,750 shares of the company’s stock valued at $403,000 after buying an additional 1,300 shares during the period. Norges Bank purchased a new position in shares of Meridian Bioscience during the fourth quarter valued at $20,108,000. Finally, Teachers Advisors LLC increased its position in shares of Meridian Bioscience by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 69,137 shares of the company’s stock valued at $1,224,000 after buying an additional 1,828 shares during the period. Institutional investors own 85.87% of the company’s stock.
Shares of Meridian Bioscience Inc. (VIVO) opened at 13.70 on Friday. Meridian Bioscience Inc. has a 12-month low of $10.75 and a 12-month high of $19.85. The company has a 50-day moving average of $15.21 and a 200 day moving average of $14.12. The firm has a market capitalization of $578.17 million, a PE ratio of 27.40 and a beta of 0.89.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $50.14 million for the quarter, compared to the consensus estimate of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. Meridian Bioscience’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $0.21 earnings per share. On average, analysts predict that Meridian Bioscience Inc. will post $0.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a $0.125 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.50 annualized dividend and a dividend yield of 3.65%. Meridian Bioscience’s payout ratio is 98.04%.
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VIVO has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Saturday, April 29th. Canaccord Genuity upped their target price on shares of Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Finally, BidaskClub downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Meridian Bioscience has an average rating of “Hold” and an average price target of $14.75.
About Meridian Bioscience
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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