M&G Investment Management Ltd. boosted its stake in shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) by 331.4% during the first quarter, HoldingsChannel.com reports. The firm owned 261,687 shares of the company’s stock after acquiring an additional 201,024 shares during the period. M&G Investment Management Ltd.’s holdings in Meridian Bioscience were worth $6,804,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Allred Capital Management LLC purchased a new position in Meridian Bioscience during the first quarter valued at approximately $26,000. Optimum Investment Advisors bought a new stake in Meridian Bioscience in the first quarter worth approximately $32,000. First Bank & Trust bought a new stake in Meridian Bioscience in the first quarter worth approximately $38,000. ProShare Advisors LLC bought a new stake in Meridian Bioscience in the fourth quarter worth approximately $191,000. Finally, LS Investment Advisors LLC bought a new stake in Meridian Bioscience in the fourth quarter worth approximately $216,000. 95.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO John P. Kenny sold 30,000 shares of the company’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $25.00, for a total transaction of $750,000.00. Following the completion of the transaction, the chief executive officer now directly owns 208,659 shares in the company, valued at approximately $5,216,475. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.
Shares of Meridian Bioscience stock opened at $20.57 on Friday. The business has a fifty day moving average price of $21.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.74 and a quick ratio of 2.30. Meridian Bioscience, Inc. has a 1-year low of $12.98 and a 1-year high of $30.65. The firm has a market capitalization of $891.30 million, a PE ratio of 10.29 and a beta of 0.49.
Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, May 6th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The firm had revenue of $85.26 million during the quarter, compared to analysts’ expectations of $87.24 million. Meridian Bioscience had a net margin of 26.62% and a return on equity of 32.03%. On average, equities research analysts anticipate that Meridian Bioscience, Inc. will post 1.72 EPS for the current year.
About Meridian Bioscience
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; lateral flow immunoassay using fluorescent chemistry under the Curian brand; rapid immunoassay under the ImmunoCard and ImmunoCard STAT! brands; enzyme-linked immunoassays under the PREMIER brand; anodic stripping voltammetry under the LeadCare and PediaStat brands; and urea breath testing for H.
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