Wall Street brokerages expect Meridian Bioscience, Inc. (NASDAQ:VIVO) to post $48.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Meridian Bioscience’s earnings, with the highest sales estimate coming in at $49.90 million and the lowest estimate coming in at $47.51 million. Meridian Bioscience reported sales of $51.48 million in the same quarter last year, which indicates a negative year-over-year growth rate of 5%. The business is expected to report its next quarterly earnings report before the market opens on Friday, February 7th.
According to Zacks, analysts expect that Meridian Bioscience will report full-year sales of $198.55 million for the current year, with estimates ranging from $198.20 million to $198.91 million. For the next fiscal year, analysts anticipate that the business will report sales of $205.48 million, with estimates ranging from $203.09 million to $207.87 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. Meridian Bioscience had a net margin of 12.13% and a return on equity of 15.72%. The firm had revenue of $50.80 million for the quarter, compared to the consensus estimate of $50.57 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year.
A number of research analysts have issued reports on VIVO shares. BidaskClub cut Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, December 27th. Canaccord Genuity reissued a “sell” rating and set a $8.00 price objective on shares of Meridian Bioscience in a report on Tuesday, November 19th. ValuEngine raised Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Zacks Investment Research cut Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $11.00.
Shares of NASDAQ VIVO traded down $0.11 during midday trading on Tuesday, reaching $9.89. 162,534 shares of the company traded hands, compared to its average volume of 317,824. The firm has a market cap of $428.27 million, a PE ratio of 14.71 and a beta of 0.39. The stock’s 50-day simple moving average is $9.65 and its 200-day simple moving average is $9.96. Meridian Bioscience has a 12 month low of $7.63 and a 12 month high of $17.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.03 and a current ratio of 6.92.
In other Meridian Bioscience news, CEO John P. Kenny purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $7.73 per share, with a total value of $154,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 198,324 shares of the company’s stock, valued at approximately $1,533,044.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Phillips purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $8.06 per share, with a total value of $80,600.00. Following the completion of the acquisition, the director now directly owns 5,491 shares of the company’s stock, valued at $44,257.46. The disclosure for this purchase can be found here. 2.10% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in VIVO. Ladenburg Thalmann Financial Services Inc. raised its holdings in Meridian Bioscience by 113.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,869 shares of the company’s stock worth $58,000 after purchasing an additional 2,591 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of Meridian Bioscience during the 2nd quarter worth about $147,000. Laurion Capital Management LP acquired a new position in shares of Meridian Bioscience during the 2nd quarter worth about $158,000. Alpine Global Management LLC acquired a new position in shares of Meridian Bioscience during the 4th quarter worth about $156,000. Finally, Johnson Investment Counsel Inc. grew its position in shares of Meridian Bioscience by 14.7% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 19,917 shares of the company’s stock worth $236,000 after buying an additional 2,548 shares during the period. 88.96% of the stock is owned by institutional investors and hedge funds.
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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