William Blair Comments on Meridian Bioscience Inc.’s FY2018 Earnings (VIVO)
Meridian Bioscience Inc. (NASDAQ:VIVO) – Equities researchers at William Blair decreased their FY2018 earnings per share (EPS) estimates for shares of Meridian Bioscience in a report released on Thursday. William Blair analyst B. Weinstein now expects that the company will earn $0.67 per share for the year, down from their prior estimate of $0.72. William Blair also issued estimates for Meridian Bioscience’s FY2019 earnings at $0.73 EPS.
Other equities analysts have also issued research reports about the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $14.00 target price on shares of Meridian Bioscience in a research report on Friday, October 13th. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, BidaskClub lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Meridian Bioscience presently has an average rating of “Hold” and an average price target of $11.50.
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Shares of Meridian Bioscience (VIVO) traded up $0.30 during mid-day trading on Monday, reaching $14.90. 171,400 shares of the company were exchanged, compared to its average volume of 318,163. Meridian Bioscience has a fifty-two week low of $10.75 and a fifty-two week high of $18.58. The company has a market capitalization of $616.16, a price-to-earnings ratio of 21.47 and a beta of 0.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.47 and a quick ratio of 4.42.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.07%. The business had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.28 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Meridian Bioscience’s revenue was up 5.7% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in VIVO. UBS Asset Management Americas Inc. bought a new stake in Meridian Bioscience in the 1st quarter valued at $179,000. OppenheimerFunds Inc. bought a new stake in Meridian Bioscience in the 1st quarter valued at $161,000. Principal Financial Group Inc. increased its holdings in Meridian Bioscience by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 335,646 shares of the company’s stock valued at $4,632,000 after buying an additional 11,966 shares during the period. FMR LLC increased its holdings in Meridian Bioscience by 148.5% in the 1st quarter. FMR LLC now owns 353,141 shares of the company’s stock valued at $4,873,000 after buying an additional 211,023 shares during the period. Finally, Thrivent Financial For Lutherans increased its holdings in Meridian Bioscience by 3.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 23,640 shares of the company’s stock valued at $326,000 after buying an additional 890 shares during the period. 87.34% of the stock is currently owned by hedge funds and other institutional investors.
In other Meridian Bioscience news, Chairman John A. Kraeutler purchased 7,000 shares of the stock in a transaction on Thursday, August 24th. The shares were purchased at an average price of $13.67 per share, with a total value of $95,690.00. Following the acquisition, the chairman now directly owns 345,230 shares of the company’s stock, valued at approximately $4,719,294.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, November 17th. Meridian Bioscience’s dividend payout ratio (DPR) is presently 98.04%.
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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