Meridian Bioscience Inc. (NASDAQ:VIVO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
Several other equities analysts have also commented on VIVO. BidaskClub lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Canaccord Genuity reiterated a “hold” rating and issued a $14.00 price target on shares of Meridian Bioscience in a research note on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.50.
Shares of Meridian Bioscience (VIVO) traded up $0.30 during trading on Friday, reaching $14.95. 143,400 shares of the company’s stock traded hands, compared to its average volume of 316,613. The stock has a market capitalization of $618.27, a price-to-earnings ratio of 21.54 and a beta of 0.89. Meridian Bioscience has a one year low of $10.75 and a one year high of $18.58. 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 quarterly earnings results on Thursday, November 9th. The company reported $0.15 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.28 million. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.07%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 earnings per share. sell-side analysts predict that Meridian Bioscience will post 0.66 earnings per share for the current year.
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In other news, Chairman John A. Kraeutler acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $13.67 per share, with a total value of $95,690.00. Following the completion of the acquisition, the chairman now owns 345,230 shares of the company’s stock, valued at $4,719,294.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. lifted its holdings in shares of Meridian Bioscience by 280.6% during 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 during the period. Aperio Group LLC lifted its holdings in shares of Meridian Bioscience by 40.0% during 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 during the period. Russell Investments Group Ltd. lifted its holdings in shares of Meridian Bioscience by 29.1% during the second quarter. Russell Investments Group Ltd. now owns 39,672 shares of the company’s stock worth $625,000 after purchasing an additional 8,954 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Meridian Bioscience by 19.2% during the second quarter. Parametric Portfolio Associates LLC now owns 191,114 shares of the company’s stock worth $3,010,000 after purchasing an additional 30,838 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Meridian Bioscience by 29.9% during the first quarter. Geode Capital Management LLC now owns 456,039 shares of the company’s stock worth $6,293,000 after purchasing an additional 104,990 shares during the period. 87.34% of the stock is owned by hedge funds and other institutional investors.
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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