Meridian Bioscience Inc. (VIVO) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. “
Several other analysts have also recently weighed in on the stock. Canaccord Genuity restated a hold rating and set a $20.00 price objective on shares of Meridian Bioscience in a research report on Monday, August 1st. Hilliard Lyons cut shares of Meridian Bioscience from a buy rating to a hold rating in a research report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Meridian Bioscience presently has an average rating of Hold and a consensus price target of $21.25.
Meridian Bioscience (NASDAQ:VIVO) opened at 18.95 on Tuesday. The firm’s 50-day moving average is $19.31 and its 200 day moving average is $19.60. The firm has a market capitalization of $797.53 million, a P/E ratio of 22.56 and a beta of 0.97. Meridian Bioscience has a 12 month low of $17.42 and a 12 month high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $50.70 million for the quarter, compared to analysts’ expectations of $52.85 million. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. On average, analysts expect that Meridian Bioscience will post $0.86 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Greylin Investment Mangement Inc. bought a new stake in shares of Meridian Bioscience during the second quarter worth $416,000. Eqis Capital Management Inc. raised its stake in shares of Meridian Bioscience by 2.9% in the second quarter. Eqis Capital Management Inc. now owns 31,340 shares of the company’s stock worth $611,000 after buying an additional 887 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of Meridian Bioscience by 2.4% in the second quarter. Capstone Asset Management Co. now owns 235,439 shares of the company’s stock worth $4,591,000 after buying an additional 5,473 shares during the last quarter. Naples Global Advisors LLC raised its stake in shares of Meridian Bioscience by 9.3% in the second quarter. Naples Global Advisors LLC now owns 55,922 shares of the company’s stock worth $1,090,000 after buying an additional 4,750 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Meridian Bioscience by 101.2% in the second quarter. BNP Paribas Arbitrage SA now owns 14,073 shares of the company’s stock worth $274,000 after buying an additional 7,077 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.
Meridian Bioscience Company Profile
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.
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