According to Zacks, “Meridian Bioscience, Inc. is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies that help deliver answers. Its products provide accuracy, simplicity and speed for the early diagnosis and treatment of common medical conditions, such as C. difficile, H. pylori, foodborne diseases and respiratory infections. In addition, the company develops and manufactures a variety of biological and non-biological materials used in proficiency testing programs. Meridian diagnostic products are used outside of the human body and require little or no special equipment. Meridian Bioscience designs their products to enhance the well-being of the patient-while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal infections, serology, parasitology and fungal disease diagnosis. “
A number of other equities research analysts also recently weighed in on VIVO. BidaskClub raised shares of Meridian Bioscience from a sell rating to a hold rating in a research report on Friday, May 10th. ValuEngine raised shares of Meridian Bioscience from a hold rating to a buy rating in a research report on Friday, March 29th. Piper Jaffray Companies raised shares of Meridian Bioscience from an underweight rating to a neutral rating and reduced their target price for the company from $15.00 to $11.00 in a research note on Wednesday, May 1st. Finally, Canaccord Genuity lowered shares of Meridian Bioscience from a hold rating to a sell rating and reduced their target price for the company from $17.00 to $11.00 in a research note on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Meridian Bioscience has a consensus rating of Hold and an average target price of $13.25.
Shares of NASDAQ:VIVO opened at $11.22 on Friday. The company has a quick ratio of 4.31, a current ratio of 6.01 and a debt-to-equity ratio of 0.23. Meridian Bioscience has a fifty-two week low of $10.77 and a fifty-two week high of $19.84. The stock has a market cap of $476.73 million, a P/E ratio of 15.16 and a beta of 0.31.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. The business had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.03 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities analysts expect that Meridian Bioscience will post 0.59 earnings per share for the current fiscal year.
In other news, CEO John P. Kenny bought 20,000 shares of Meridian Bioscience stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $11.49 per share, with a total value of $229,800.00. Following the purchase, the chief executive officer now directly owns 83,000 shares of the company’s stock, valued at approximately $953,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Anderson bought 5,000 shares of Meridian Bioscience stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $11.37 per share, with a total value of $56,850.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 32,000 shares of company stock valued at $366,170 over the last three months. 2.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Meridian Bioscience by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 821,462 shares of the company’s stock worth $12,239,000 after acquiring an additional 9,615 shares during the period. Teachers Advisors LLC lifted its stake in shares of Meridian Bioscience by 6.0% in the 3rd quarter. Teachers Advisors LLC now owns 80,747 shares of the company’s stock worth $1,203,000 after acquiring an additional 4,545 shares during the period. Legal & General Group Plc lifted its stake in shares of Meridian Bioscience by 7.4% in the 3rd quarter. Legal & General Group Plc now owns 100,727 shares of the company’s stock worth $1,502,000 after acquiring an additional 6,935 shares during the period. Morgan Stanley lifted its stake in shares of Meridian Bioscience by 57.7% in the 3rd quarter. Morgan Stanley now owns 523,950 shares of the company’s stock worth $7,807,000 after acquiring an additional 191,623 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Meridian Bioscience by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 4,347,959 shares of the company’s stock worth $64,784,000 after acquiring an additional 94,180 shares during the period. 91.25% of the stock is owned by hedge funds and other institutional investors.
Meridian Bioscience Company Profile
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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