Meridian Bioscience Inc. (NASDAQ:VIVO) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.81-0.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.82. The company issued revenue guidance of $205-210 million, compared to the consensus revenue estimate of $206.11 million.

Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) opened at 16.95 on Thursday. The stock has a 50 day moving average price of $18.03 and a 200-day moving average price of $19.07. Meridian Bioscience Inc. has a 52 week low of $15.75 and a 52 week high of $21.49. The company has a market capitalization of $713.36 million, a PE ratio of 20.18 and a beta of 0.94.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, November 10th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.14. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. The firm had revenue of $47 million for the quarter, compared to analysts’ expectations of $47.70 million. During the same quarter in the previous year, the business posted $0.20 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts expect that Meridian Bioscience Inc. will post $0.80 EPS for the current year.

A number of research analysts have issued reports on VIVO shares. Zacks Investment Research cut Meridian Bioscience from a hold rating to a strong sell rating in a research report on Friday, October 21st. Canaccord Genuity reiterated a hold rating and issued a $20.00 target price on shares of Meridian Bioscience in a research report on Monday, August 1st. Finally, Hilliard Lyons cut Meridian Bioscience from a buy rating to a hold rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of Hold and a consensus target price of $20.00.

In other news, Chairman John A. Kraeutler purchased 5,000 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were purchased at an average cost of $16.13 per share, with a total value of $80,650.00. Following the completion of the purchase, the chairman now owns 316,683 shares of the company’s stock, valued at approximately $5,108,096.79. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lawrence Baldini purchased 4,900 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $78,400.00. Following the completion of the purchase, the executive vice president now directly owns 95,501 shares of the company’s stock, valued at approximately $1,528,016. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Meridian Bioscience by 5.3% in the second quarter. Vanguard Group Inc. now owns 3,417,303 shares of the company’s stock worth $66,637,000 after buying an additional 171,772 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of Meridian Bioscience by 4.4% in the second quarter. BlackRock Advisors LLC now owns 20,604 shares of the company’s stock worth $402,000 after buying an additional 876 shares during the last quarter. BlackRock Investment Management LLC raised its stake in shares of Meridian Bioscience by 8.9% in the second quarter. BlackRock Investment Management LLC now owns 178,021 shares of the company’s stock worth $3,471,000 after buying an additional 14,548 shares during the last quarter. BlackRock Inc. raised its stake in shares of Meridian Bioscience by 40.5% in the second quarter. BlackRock Inc. now owns 5,415 shares of the company’s stock worth $105,000 after buying an additional 1,560 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Meridian Bioscience by 2.7% in the second quarter. BlackRock Fund Advisors now owns 2,673,093 shares of the company’s stock worth $52,125,000 after buying an additional 71,126 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

About Meridian Bioscience

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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