Research Analysts Offer Predictions for Meridian Bioscience Inc.’s Q1 2017 Earnings (VIVO)
Meridian Bioscience Inc. (NASDAQ:VIVO) – Equities researchers at Craig Hallum issued their Q1 2017 earnings per share estimates for Meridian Bioscience in a report released on Monday. Craig Hallum analyst B. Bonello anticipates that the firm will earn $0.17 per share for the quarter. Craig Hallum has a “Hold” rating and a $19.00 price objective on the stock. Craig Hallum also issued estimates for Meridian Bioscience’s Q2 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.20 EPS and FY2017 earnings at $0.81 EPS.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings results on Thursday, November 10th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Hilliard Lyons downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Canaccord Genuity restated a “hold” rating and set a $20.00 target price on shares of Meridian Bioscience in a report on Monday, August 1st. Finally, TheStreet downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.75.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 16.85 on Wednesday. The stock has a market capitalization of $709.15 million, a P/E ratio of 22.17 and a beta of 0.94. The stock has a 50 day moving average of $17.68 and a 200-day moving average of $18.96. Meridian Bioscience has a 1-year low of $15.75 and a 1-year high of $21.49.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 21st will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 17th. This represents a $0.80 annualized dividend and a dividend yield of 4.75%. Meridian Bioscience’s dividend payout ratio is currently 105.26%.
In other news, EVP Lawrence Baldini purchased 4,900 shares of the firm’s stock in a transaction on Thursday, November 3rd. The shares were bought at an average cost of $16.00 per share, with a total value of $78,400.00. Following the purchase, the executive vice president now directly owns 95,501 shares of the company’s stock, valued at $1,528,016. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John A. Kraeutler purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were purchased at an average cost of $16.13 per share, for a total transaction of $80,650.00. Following the completion of the purchase, the chairman now directly owns 316,683 shares in the company, valued at $5,108,096.79. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VIVO. Teachers Advisors Inc. boosted its stake in Meridian Bioscience by 2.7% in the first quarter. Teachers Advisors Inc. now owns 64,329 shares of the company’s stock valued at $1,326,000 after buying an additional 1,664 shares in the last quarter. Prudential Financial Inc. boosted its stake in Meridian Bioscience by 3.9% in the first quarter. Prudential Financial Inc. now owns 100,591 shares of the company’s stock valued at $2,073,000 after buying an additional 3,800 shares in the last quarter. BlackRock Group LTD boosted its stake in Meridian Bioscience by 4.6% in the first quarter. BlackRock Group LTD now owns 68,586 shares of the company’s stock valued at $1,413,000 after buying an additional 3,005 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Meridian Bioscience by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,118,070 shares of the company’s stock valued at $23,043,000 after buying an additional 15,697 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Meridian Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 1,710,600 shares of the company’s stock valued at $35,255,000 after buying an additional 136,024 shares in the last quarter. 86.58% of the stock is currently owned by 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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