Comerica Bank Reduces Stock Position in Meridian Bioscience, Inc. (NASDAQ:VIVO)

Comerica Bank trimmed its holdings in shares of Meridian Bioscience, Inc. (NASDAQ:VIVO – Get Rating) by 10.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,486 shares of the company’s stock after selling 3,722 shares during the period. Comerica Bank owned 0.08% of Meridian Bioscience worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Meridian Bioscience by 16.1% during the first quarter. JPMorgan Chase & Co. now owns 156,631 shares of the company’s stock worth $4,067,000 after purchasing an additional 21,777 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Meridian Bioscience by 11.1% during the 1st quarter. American Century Companies Inc. now owns 54,644 shares of the company’s stock worth $1,419,000 after buying an additional 5,463 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Meridian Bioscience by 2.5% in the 1st quarter. Citigroup Inc. now owns 48,835 shares of the company’s stock valued at $1,268,000 after buying an additional 1,200 shares in the last quarter. Bank of Montreal Can grew its position in shares of Meridian Bioscience by 7.2% in the 1st quarter. Bank of Montreal Can now owns 14,144 shares of the company’s stock valued at $383,000 after buying an additional 955 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Meridian Bioscience by 57.9% in the 1st quarter. MetLife Investment Management LLC now owns 23,227 shares of the company’s stock valued at $603,000 after buying an additional 8,516 shares during the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.

Meridian Bioscience Stock Performance

Shares of VIVO opened at $33.76 on Wednesday. The company’s 50 day simple moving average is $32.82 and its 200-day simple moving average is $32.45. Meridian Bioscience, Inc. has a 12-month low of $19.91 and a 12-month high of $34.38. The firm has a market cap of $1.48 billion, a PE ratio of 34.80 and a beta of 0.26. The company has a current ratio of 3.63, a quick ratio of 2.46 and a debt-to-equity ratio of 0.07.

Meridian Bioscience (NASDAQ:VIVO – Get Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Meridian Bioscience had a net margin of 12.70% and a return on equity of 16.74%. The company had revenue of $65.68 million for the quarter, compared to analyst estimates of $67.45 million. As a group, equities analysts predict that Meridian Bioscience, Inc. will post 0.83 EPS for the current year.

Analyst Ratings Changes

VIVO has been the subject of a number of research reports. William Blair reissued a “market perform” rating on shares of Meridian Bioscience in a research report on Friday, November 25th. StockNews.com downgraded Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Saturday, November 19th.

Meridian Bioscience Profile

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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 brands; and urea breath testing for H.