Meridian Bioscience Inc. (VIVO) Stock Rating Lowered by Craig Hallum
Meridian Bioscience Inc. (NASDAQ:VIVO) was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $19.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 12.09% from the company’s previous close.
Several other equities analysts also recently issued reports on the stock. TheStreet downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “strong sell” rating in a research note on Friday, October 21st. Canaccord Genuity reaffirmed a “neutral” rating and issued a $18.00 target price on shares of Meridian Bioscience in a research note on Wednesday, October 19th. Finally, Hilliard Lyons downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.75.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 16.95 on Monday. The company has a market capitalization of $713.36 million, a PE ratio of 22.30 and a beta of 0.94. The company’s 50-day moving average is $17.75 and its 200-day moving average is $18.98. Meridian Bioscience has a one year low of $15.75 and a one year high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, November 10th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Meridian Bioscience had a net margin of 16.44% and a return on equity of 19.91%. The firm earned $47 million during the quarter, compared to the consensus estimate of $47.17 million. During the same period last year, the firm posted $0.20 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts predict that Meridian Bioscience will post $0.82 earnings per share for the current 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Thursday, November 17th. Meridian Bioscience’s dividend payout ratio is 105.26%.
In other Meridian Bioscience news, EVP Lawrence Baldini purchased 4,900 shares of the stock in a transaction dated Thursday, November 3rd. The stock was bought at an average price of $16.00 per share, for a total transaction of $78,400.00. Following the transaction, the executive vice president now directly owns 95,501 shares in the company, valued at $1,528,016. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 price of $16.13 per share, with a total value of $80,650.00. Following the transaction, the chairman now owns 316,683 shares in the company, valued at $5,108,096.79. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
Large investors have recently modified their holdings of the company. BlackRock Inc. boosted 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 valued at $105,000 after buying an additional 1,560 shares in the last quarter. Bartlett & Co. LLC boosted its stake in shares of 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. Teacher Retirement System of Texas boosted its stake in shares of Meridian Bioscience by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,880 shares of the company’s stock valued at $115,000 after buying an additional 708 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Meridian Bioscience by 1,405.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,006 shares of the company’s stock worth $117,000 after buying an additional 5,607 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Meridian Bioscience during the second quarter worth about $127,000. Institutional investors own 86.58% of the company’s stock.
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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