Meridian Bioscience Inc. (NASDAQ:VIVO)‘s stock had its “hold” rating reiterated by equities research analysts at Canaccord Genuity in a research note issued to investors on Friday. They presently have a $14.00 target price on the stock. Canaccord Genuity’s price objective would suggest a potential downside of 6.35% from the stock’s current price.
A number of other equities research analysts have also commented on VIVO. Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. BidaskClub lowered Meridian Bioscience from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.
Shares of Meridian Bioscience (NASDAQ VIVO) opened at 14.95 on Friday. The company has a market cap of $630.93 million, a P/E ratio of 29.90 and a beta of 0.84. The firm’s 50-day moving average price is $14.18 and its 200 day moving average price is $14.33. Meridian Bioscience has a 52 week low of $10.75 and a 52 week high of $19.10.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The business had revenue of $50.14 million for the quarter, compared to analyst estimates of $49.13 million. Meridian Bioscience had a return on equity of 16.93% and a net margin of 10.77%. Meridian Bioscience’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. On average, equities analysts predict that Meridian Bioscience will post $0.67 EPS for the current fiscal year.
In other news, Chairman John A. Kraeutler acquired 7,000 shares of the firm’s stock in a transaction on Thursday, August 24th. The shares were purchased at an average cost of $13.67 per share, for a total transaction of $95,690.00. Following the transaction, the chairman now 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 can be accessed through this link. 2.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in VIVO. Vanguard Group Inc. boosted its position in Meridian Bioscience by 9.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock valued at $63,299,000 after buying an additional 334,480 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Meridian Bioscience in the 2nd quarter valued at $4,618,000. Dimensional Fund Advisors LP boosted its position 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 valued at $26,271,000 after buying an additional 240,143 shares during the last quarter. FMR LLC boosted its position 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 last quarter. Finally, Prudential Financial Inc. boosted its position in Meridian Bioscience by 280.6% in the 2nd quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock valued at $4,305,000 after buying an additional 201,519 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.
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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