Wall Street analysts predict that Meridian Bioscience Inc. (NASDAQ:VIVO) will post earnings of $0.14 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Meridian Bioscience’s earnings. The highest EPS estimate is $0.15 and the lowest is $0.14. Meridian Bioscience also reported earnings of $0.14 per share in the same quarter last year. The firm is scheduled to report its next quarterly earnings results on Thursday, November 9th.
On average, analysts expect that Meridian Bioscience will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.68. For the next financial year, analysts forecast that the company will post earnings of $0.68 per share, with EPS estimates ranging from $0.62 to $0.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. 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 business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share.
VIVO has been the subject of a number of research analyst reports. BidaskClub downgraded Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Meridian Bioscience presently has a consensus rating of “Hold” and a consensus target price of $14.33.
In related news, Chairman John A. Kraeutler purchased 7,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average cost of $13.67 per share, with a total value of $95,690.00. Following the purchase, the chairman now directly owns 345,230 shares of the company’s stock, valued at $4,719,294.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Meridian Bioscience by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock worth $63,299,000 after purchasing an additional 334,480 shares during the period. Renaissance Technologies LLC increased its stake in Meridian Bioscience by 6.1% in the 1st quarter. Renaissance Technologies LLC now owns 1,988,276 shares of the company’s stock worth $27,438,000 after purchasing an additional 115,076 shares during the period. Dimensional Fund Advisors LP increased its stake in Meridian Bioscience by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock worth $26,271,000 after purchasing an additional 240,143 shares during the period. State Street Corp increased its stake in Meridian Bioscience by 15.2% in the 1st quarter. State Street Corp now owns 1,243,847 shares of the company’s stock worth $17,164,000 after purchasing an additional 163,770 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Meridian Bioscience by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 863,183 shares of the company’s stock worth $13,595,000 after purchasing an additional 9,713 shares during the period. 87.30% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Meridian Bioscience (NASDAQ:VIVO) traded down 0.34% on Monday, reaching $14.65. The company’s stock had a trading volume of 6,850 shares. Meridian Bioscience has a 12 month low of $10.75 and a 12 month high of $19.75. The firm’s 50-day moving average price is $14.06 and its 200-day moving average price is $14.28. The stock has a market cap of $618.27 million, a P/E ratio of 29.30 and a beta of 0.84.
About Meridian Bioscience
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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