Meridian Bioscience Target of Unusually Large Options Trading (NASDAQ:VIVO)

Meridian Bioscience, Inc. (NASDAQ:VIVO) was the recipient of unusually large options trading activity on Thursday. Traders bought 1,837 call options on the stock. This is an increase of 1,701% compared to the typical volume of 102 call options.

A number of brokerages recently issued reports on VIVO. BidaskClub raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. ValuEngine raised shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Tuesday, March 17th. Finally, William Blair reissued a “market perform” rating on shares of Meridian Bioscience in a research report on Saturday, February 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $11.00.

In other Meridian Bioscience news, CEO John P. Kenny purchased 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $7.90 per share, with a total value of $79,000.00. Following the transaction, the chief executive officer now directly owns 208,324 shares in the company, valued at approximately $1,645,759.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John P. Kenny purchased 30,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were acquired at an average cost of $5.78 per share, with a total value of $173,400.00. Following the completion of the transaction, the chief executive officer now owns 238,324 shares in the company, valued at $1,377,512.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 48,550 shares of company stock valued at $314,166. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Johnson Investment Counsel Inc. raised its holdings in Meridian Bioscience by 6.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 21,168 shares of the company’s stock worth $207,000 after buying an additional 1,251 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Meridian Bioscience by 6.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 26,520 shares of the company’s stock worth $259,000 after acquiring an additional 1,497 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Meridian Bioscience by 1.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 98,121 shares of the company’s stock worth $959,000 after acquiring an additional 1,508 shares during the period. Schroder Investment Management Group grew its stake in shares of Meridian Bioscience by 8.4% in the fourth quarter. Schroder Investment Management Group now owns 22,427 shares of the company’s stock worth $219,000 after acquiring an additional 1,730 shares during the period. Finally, Swiss National Bank grew its stake in shares of Meridian Bioscience by 3.5% in the fourth quarter. Swiss National Bank now owns 81,800 shares of the company’s stock worth $799,000 after acquiring an additional 2,800 shares during the period. 86.55% of the stock is owned by institutional investors and hedge funds.

Shares of Meridian Bioscience stock opened at $6.97 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.14 and a current ratio of 4.37. The stock has a market capitalization of $292.10 million, a PE ratio of 15.15 and a beta of 0.53. Meridian Bioscience has a 52-week low of $5.51 and a 52-week high of $17.71. The company has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $9.06.

Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Friday, February 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $47.42 million during the quarter, compared to analysts’ expectations of $48.71 million. Meridian Bioscience had a net margin of 9.70% and a return on equity of 13.02%. As a group, equities research analysts forecast that Meridian Bioscience will post 0.29 EPS for the current fiscal year.

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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