ValuEngine cut shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a sell rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other analysts also recently issued reports on the company. Piper Jaffray Companies cut their price target on Meridian Bioscience from $17.00 to $15.00 and set an underweight rating on the stock in a report on Tuesday, April 2nd. BidaskClub downgraded Meridian Bioscience from a strong-buy rating to a buy rating in a report on Saturday, December 15th. Zacks Investment Research downgraded Meridian Bioscience from a buy rating to a hold rating in a report on Wednesday, March 20th. Canaccord Genuity downgraded Meridian Bioscience from a hold rating to a sell rating and cut their price target for the stock from $17.00 to $11.00 in a report on Wednesday, April 3rd. Finally, Robert W. Baird cut their price target on Meridian Bioscience from $17.00 to $14.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of Sell and a consensus target price of $14.75.

NASDAQ:VIVO opened at $12.86 on Friday. The company has a market cap of $554.06 million, a price-to-earnings ratio of 17.38 and a beta of 0.49. Meridian Bioscience has a 52 week low of $12.70 and a 52 week high of $19.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.72 and a current ratio of 6.75.

Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, January 24th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $51.48 million for the quarter, compared to the consensus estimate of $51.50 million. Meridian Bioscience had a return on equity of 19.17% and a net margin of 12.06%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. On average, research analysts forecast that Meridian Bioscience will post 0.63 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VIVO. BlackRock Inc. increased its position in Meridian Bioscience by 1.1% in the 4th quarter. BlackRock Inc. now owns 6,295,660 shares of the company’s stock valued at $109,294,000 after acquiring an additional 67,044 shares during the period. Vanguard Group Inc increased its position in Meridian Bioscience by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 4,347,959 shares of the company’s stock valued at $64,784,000 after acquiring an additional 94,180 shares during the period. Vanguard Group Inc. increased its position in Meridian Bioscience by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,347,959 shares of the company’s stock valued at $64,784,000 after acquiring an additional 94,180 shares during the period. Renaissance Technologies LLC increased its position in Meridian Bioscience by 6.5% in the 3rd quarter. Renaissance Technologies LLC now owns 2,801,208 shares of the company’s stock valued at $41,738,000 after acquiring an additional 169,932 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Meridian Bioscience by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock valued at $33,011,000 after acquiring an additional 14,871 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

About Meridian Bioscience

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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