Mackay Shields LLC Cuts Position in Meridian Bioscience, Inc. (NASDAQ:VIVO)

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Mackay Shields LLC lessened its holdings in Meridian Bioscience, Inc. (NASDAQ:VIVO) by 22.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,691 shares of the company’s stock after selling 16,300 shares during the quarter. Mackay Shields LLC’s holdings in Meridian Bioscience were worth $547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS Asset Management Americas Inc. lifted its stake in shares of Meridian Bioscience by 4.2% in the second quarter. UBS Asset Management Americas Inc. now owns 28,530 shares of the company’s stock worth $339,000 after buying an additional 1,163 shares in the last quarter. Swiss National Bank lifted its stake in shares of Meridian Bioscience by 2.2% in the second quarter. Swiss National Bank now owns 79,000 shares of the company’s stock worth $939,000 after buying an additional 1,700 shares in the last quarter. 6 Meridian lifted its stake in shares of Meridian Bioscience by 4.9% in the second quarter. 6 Meridian now owns 42,384 shares of the company’s stock worth $504,000 after buying an additional 1,964 shares in the last quarter. Coastal Capital Group Inc. bought a new position in shares of Meridian Bioscience in the second quarter worth approximately $25,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Meridian Bioscience by 19.0% in the third quarter. Pacer Advisors Inc. now owns 14,734 shares of the company’s stock worth $140,000 after buying an additional 2,354 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Shares of Meridian Bioscience stock opened at $8.64 on Monday. The company has a market cap of $365.61 million, a price-to-earnings ratio of 12.71 and a beta of 0.37. The company’s 50 day moving average is $9.45 and its 200 day moving average is $10.61. Meridian Bioscience, Inc. has a twelve month low of $7.63 and a twelve month high of $19.75. The company has a quick ratio of 4.75, a current ratio of 6.93 and a debt-to-equity ratio of 0.40.

Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04. The company had revenue of $50.80 million for the quarter, compared to the consensus estimate of $50.57 million. Meridian Bioscience had a net margin of 12.13% and a return on equity of 15.89%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Sell-side analysts expect that Meridian Bioscience, Inc. will post 0.3 EPS for the current fiscal year.

In related news, Director David Phillips acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $8.06 per share, for a total transaction of $80,600.00. Following the completion of the transaction, the director now directly owns 5,491 shares in the company, valued at $44,257.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John P. Kenny acquired 20,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $7.73 per share, for a total transaction of $154,600.00. Following the transaction, the chief executive officer now owns 198,324 shares of the company’s stock, valued at $1,533,044.52. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on VIVO shares. Zacks Investment Research downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. ValuEngine upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Canaccord Genuity reiterated a “sell” rating and issued a $9.00 target price on shares of Meridian Bioscience in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Meridian Bioscience has an average rating of “Hold” and a consensus target price of $11.25.

Meridian Bioscience Company Profile

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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