Meridian Bioscience Inc. (VIVO) Sees Unusually-High Trading Volume
Meridian Bioscience Inc. (NASDAQ:VIVO) shares saw strong trading volume on Thursday . 293,850 shares changed hands during mid-day trading, an increase of 40% from the previous session’s volume of 209,683 shares.The stock last traded at $19.38 and had previously closed at $19.43.
A number of research analysts recently weighed in on the company. Canaccord Genuity reiterated a “hold” rating and issued a $20.00 target price on shares of Meridian Bioscience in a report on Monday, August 1st. Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Hilliard Lyons cut Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $21.25.
The company’s 50-day moving average is $19.71 and its 200-day moving average is $19.80. The company has a market cap of $816.05 million and a P/E ratio of 23.08.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. During the same quarter in the prior year, the company earned $0.22 earnings per share. The business earned $50.70 million during the quarter, compared to the consensus estimate of $52.85 million. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Meridian Bioscience Inc. will post $0.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 18th. Shareholders of record on Monday, August 8th will be issued a $0.20 dividend. The ex-dividend date is Thursday, August 4th. This represents a $0.80 annualized dividend and a dividend yield of 4.13%.
A hedge fund recently raised its stake in Meridian Bioscience stock. Rhumbline Advisers boosted its stake in shares of Meridian Bioscience Inc. (NASDAQ:VIVO) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,674 shares of the company’s stock after buying an additional 4,925 shares during the period. Rhumbline Advisers owned about 0.28% of Meridian Bioscience worth $2,415,000 as of its most recent filing with the SEC.
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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