Meridian Bioscience Inc. (VIVO) Downgraded by TheStreet
VIVO has been the topic of several other research reports. Zacks Investment Research downgraded shares of Meridian Bioscience from a hold rating to a strong sell rating in a report on Friday, October 21st. Canaccord Genuity reaffirmed a hold rating and issued a $20.00 target price on shares of Meridian Bioscience in a report on Monday, August 1st. Finally, Hilliard Lyons downgraded shares of Meridian Bioscience from a buy rating to a hold rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company has a consensus rating of Hold and an average price target of $20.00.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 16.80 on Thursday. The company’s 50-day moving average is $17.83 and its 200 day moving average is $18.99. Meridian Bioscience has a 52 week low of $15.75 and a 52 week high of $21.49. The stock has a market cap of $707.04 million, a PE ratio of 20.00 and a beta of 0.94.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, November 10th. The company reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The business had revenue of $47 million for the quarter, compared to the consensus estimate of $47.17 million. Meridian Bioscience had a net margin of 16.44% and a return on equity of 19.91%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Analysts forecast that Meridian Bioscience will post $0.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 21st will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.80 annualized dividend and a dividend yield of 4.76%. Meridian Bioscience’s dividend payout ratio is presently 105.26%.
In other Meridian Bioscience news, Chairman John A. Kraeutler purchased 5,000 shares of the stock in a transaction dated Friday, November 4th. The shares were acquired at an average cost of $16.13 per share, for a total transaction of $80,650.00. Following the completion of the transaction, the chairman now directly owns 316,683 shares of the company’s stock, valued at $5,108,096.79. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lawrence Baldini purchased 4,900 shares of the stock in a transaction dated Thursday, November 3rd. The stock was acquired at an average price of $16.00 per share, for a total transaction of $78,400.00. Following the completion of the transaction, the executive vice president now directly owns 95,501 shares of the company’s stock, valued at $1,528,016. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in VIVO. Bartlett & Co. LLC raised its stake in Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock valued at $112,000 after buying an additional 900 shares in the last quarter. HL Financial Services LLC increased its position in shares of Meridian Bioscience by 38.4% in the second quarter. HL Financial Services LLC now owns 60,524 shares of the company’s stock valued at $1,180,000 after buying an additional 16,805 shares during the last quarter. Greylin Investment Mangement Inc. purchased a new position in shares of Meridian Bioscience during the second quarter valued at about $416,000. Eqis Capital Management Inc. increased its position 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 valued at $611,000 after buying an additional 887 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position 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 valued at $4,591,000 after buying an additional 5,473 shares during the last quarter. Institutional investors and hedge funds own 86.58% of the company’s stock.
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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