Meridian Bioscience Inc. (VIVO) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Meridian Bioscience Inc. (NASDAQ:VIVO) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. “
Separately, BidaskClub cut shares of Meridian Bioscience from a buy rating to a hold rating in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $14.33.
Shares of Meridian Bioscience (NASDAQ VIVO) traded up 0.68% during midday trading on Thursday, hitting $14.70. 128,437 shares of the stock were exchanged. The firm has a market cap of $620.38 million, a P/E ratio of 29.40 and a beta of 0.84. Meridian Bioscience has a 12-month low of $10.75 and a 12-month high of $19.75. The firm has a 50 day moving average of $14.06 and a 200 day moving average of $14.28.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities analysts forecast that Meridian Bioscience will post $0.67 EPS for the current fiscal year.
In other Meridian Bioscience news, Chairman John A. Kraeutler acquired 7,000 shares of Meridian Bioscience stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $13.67 per share, for a total transaction of $95,690.00. Following the transaction, the chairman now owns 345,230 shares in the company, valued at approximately $4,719,294.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Karp Capital Management Corp purchased a new stake in shares of Meridian Bioscience in the first quarter worth approximately $507,000. Highbridge Capital Management LLC purchased a new stake in shares of Meridian Bioscience in the first quarter worth approximately $1,279,000. Citadel Advisors LLC lifted its position in shares of Meridian Bioscience by 142.8% in the first quarter. Citadel Advisors LLC now owns 166,326 shares of the company’s stock worth $2,295,000 after purchasing an additional 97,822 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Meridian Bioscience by 280.6% in the second quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock worth $4,305,000 after purchasing an additional 201,519 shares in the last quarter. Finally, Aperio Group LLC lifted its position in shares of Meridian Bioscience by 40.0% in the second quarter. Aperio Group LLC now owns 51,385 shares of the company’s stock worth $809,000 after purchasing an additional 14,682 shares in the last quarter. 87.27% of the stock is owned by institutional investors and hedge funds.
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.
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