Meridian Bioscience Inc. (VIVO) Sees Unusually-High Trading Volume
Meridian Bioscience Inc. (NASDAQ:VIVO) saw unusually-strong trading volume on Friday . Approximately 264,047 shares changed hands during trading, an increase of 16% from the previous session’s volume of 228,315 shares.The stock last traded at $20.37 and had previously closed at $20.24.
Several research analysts have recently commented on VIVO shares. Canaccord Genuity reissued a “hold” rating and set a $19.00 price objective (up previously from $18.00) on shares of Meridian Bioscience in a report on Monday, March 28th. Robert W. Baird reissued an “outperform” rating and set a $28.00 price objective (up previously from $27.00) on shares of Meridian Bioscience in a report on Monday, March 28th. Hilliard Lyons raised Meridian Bioscience from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, March 28th. Finally, Zacks Investment Research lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Friday, April 8th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Meridian Bioscience currently has a consensus rating of “Hold” and a consensus price target of $21.00.
The stock has a market capitalization of $852.00 million and a P/E ratio of 24.11. The firm has a 50 day moving average price of $19.58 and a 200-day moving average price of $19.70.
Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, April 28th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by $0.00. During the same quarter last year, the company posted $0.24 earnings per share. The business earned $51.30 million during the quarter, compared to the consensus estimate of $52.10 million. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Meridian Bioscience Inc. will post $0.88 earnings per share for the current fiscal year.
In other news, Director Catherine Sazdanoff bought 7,700 shares of the stock in a transaction on Friday, April 29th. The shares were bought at an average price of $19.20 per share, with a total value of $147,840.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at $147,840. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds and institutional investors have recently bought and sold shares of VIVO. Schroder Investment Management Group increased its position in Meridian Bioscience by 38.3% in the fourth quarter. Schroder Investment Management Group now owns 2,374,758 shares of the company’s stock worth $48,730,000 after buying an additional 657,678 shares in the last quarter. Gabelli Funds LLC increased its position in Meridian Bioscience by 2.6% in the fourth quarter. Gabelli Funds LLC now owns 200,000 shares of the company’s stock valued at $4,104,000 after buying an additional 5,000 shares during the period. Rhumbline Advisers increased its position in Meridian Bioscience by 4.4% in the fourth quarter. Rhumbline Advisers now owns 117,674 shares of the company’s stock valued at $2,415,000 after buying an additional 4,925 shares during the period. GSA Capital Partners LLP increased its position in Meridian Bioscience by 483.6% in the fourth quarter. GSA Capital Partners LLP now owns 95,372 shares of the company’s stock valued at $1,957,000 after buying an additional 79,030 shares during the period. Finally, California State Teachers Retirement System increased its position in Meridian Bioscience by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 77,259 shares of the company’s stock valued at $1,585,000 after buying an additional 1,174 shares during the period.
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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