Meridian Bioscience Inc. (NASDAQ:VIVO) released its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16, Briefing.com reports. The firm had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. Meridian Bioscience had a return on equity of 16.93% and a net margin of 10.77%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. Meridian Bioscience updated its FY17 guidance to $0.64-0.69 EPS.

Meridian Bioscience (NASDAQ VIVO) traded up 0.74% during trading on Friday, hitting $13.70. 145,971 shares of the stock were exchanged. The stock has a 50 day moving average price of $15.21 and a 200-day moving average price of $14.12. The firm has a market capitalization of $578.17 million, a PE ratio of 27.40 and a beta of 0.89. Meridian Bioscience has a 12-month low of $10.75 and a 12-month high of $19.85.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, August 3rd. Meridian Bioscience’s dividend payout ratio (DPR) is presently 98.04%.

Hedge funds have recently bought and sold shares of the company. Cardinal Capital Management increased its stake in Meridian Bioscience by 14.6% in the first quarter. Cardinal Capital Management now owns 45,809 shares of the company’s stock worth $632,000 after buying an additional 5,846 shares during the period. Clark Estates Inc. NY bought a new stake in Meridian Bioscience during the first quarter worth about $3,133,000. Legato Capital Management LLC increased its stake in Meridian Bioscience by 1,280.0% in the first quarter. Legato Capital Management LLC now owns 29,132 shares of the company’s stock worth $2,111,000 after buying an additional 27,021 shares during the period. Louisiana State Employees Retirement System increased its stake in Meridian Bioscience by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the company’s stock worth $237,000 after buying an additional 300 shares during the period. Finally, Bank of Montreal Can increased its stake in Meridian Bioscience by 1,690.1% in the first quarter. Bank of Montreal Can now owns 12,280 shares of the company’s stock worth $169,000 after buying an additional 11,594 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.

Several research analysts have issued reports on the company. BidaskClub cut Meridian Bioscience from a “sell” rating to a “strong sell” rating in a report on Wednesday. Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Canaccord Genuity upped their price target on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.75.

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Meridian Bioscience Company Profile

Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.

Earnings History for Meridian Bioscience (NASDAQ:VIVO)

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