Penbrook Management Exits Position in Meridian Bioscience (VIVO)

Meridian Bioscience (VIVO) : Penbrook Management has sold out all of its stake in Meridian Bioscience during the most recent quarter, according to the disclosure filed by the company on Apr 21, 2016 with the SEC. The investment management company has sold out 49,175 shares of Meridian Bioscience which is valued at $1,020,381.

Meridian Bioscience opened for trading at $20.6 and hit $20.74 on the upside on Wednesday, eventually ending the session at $20.69, with a gain of 0.68% or 0.14 points. The heightened volatility saw the trading volume jump to 1,84,978 shares. Company has a market cap of $870 M.

Other Hedge Funds, Including , Cardinal Capital Management boosted its stake in VIVO in the latest quarter, The investment management firm added 2,512 additional shares and now holds a total of 32,137 shares of Meridian Bioscience which is valued at $666,843. Meridian Bioscience makes up approx 0.27% of Cardinal Capital Management’s portfolio. Next Financial Group Inc sold out all of its stake in VIVO during the most recent quarter. The investment firm sold 900 shares of VIVO which is valued $18,675.Btim Corp. boosted its stake in VIVO in the latest quarter, The investment management firm added 240,840 additional shares and now holds a total of 1,098,713 shares of Meridian Bioscience which is valued at $22,798,295. Meridian Bioscience makes up approx 0.39% of Btim Corp.’s portfolio.New York State Teachers Retirement System boosted its stake in VIVO in the latest quarter, The investment management firm added 2,800 additional shares and now holds a total of 149,801 shares of Meridian Bioscience which is valued at $3,108,371. Meridian Bioscience makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.Eqis Capital Management boosted its stake in VIVO in the latest quarter, The investment management firm added 15,559 additional shares and now holds a total of 30,453 shares of Meridian Bioscience which is valued at $622,764. Meridian Bioscience makes up approx 0.04% of Eqis Capital Management’s portfolio.

On the company’s financial health, Meridian Bioscience reported $0.21 EPS for the quarter, based on the information available during the earnings call on Jan 27, 2016. Analyst had a consensus estimate of $0.21. The company had revenue of $47.20 million for the quarter, compared to analysts expectations of $48.56 million. The company’s revenue was down -1.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on Meridian Bioscience. Company shares were Reiterated by Canaccord Genuity on Mar 28, 2016 to “Hold”, Firm has raised the Price Target to $ 19 from a previous price target of $18 .

Meridian Bioscience Inc. (Meridian) is an integrated life science company. The Company is engaged in developing manufacturing selling and distribution of clinical diagnostic test kits for certain gastrointestinal viral respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens antibodies polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents nucleotides competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines. The Company operates in two segments: Diagnostics and Life Science.

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