Meridian Bioscience Inc. (VIVO) Raised to Hold at Zacks Investment Research
According to Zacks, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. “
A number of other equities analysts have also weighed in on VIVO. Canaccord Genuity reiterated a hold rating on shares of Meridian Bioscience in a research report on Wednesday, June 29th. Hilliard Lyons lowered shares of Meridian Bioscience from a buy rating to a hold rating in a research report on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $21.25.
Meridian Bioscience (NASDAQ:VIVO) opened at 18.80 on Tuesday. The company’s 50-day moving average is $19.29 and its 200-day moving average is $19.58. Meridian Bioscience has a 52-week low of $17.63 and a 52-week high of $21.49. The firm has a market capitalization of $791.22 million, a PE ratio of 22.38 and a beta of 0.97.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $50.70 million for the quarter, compared to the consensus estimate of $52.85 million. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. Meridian Bioscience’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. Analysts forecast that Meridian Bioscience will post $0.86 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new position in Meridian Bioscience during the second quarter worth approximately $3,870,000. Vanguard Group Inc. raised its position in Meridian Bioscience by 5.3% in the second quarter. Vanguard Group Inc. now owns 3,417,303 shares of the company’s stock worth $66,637,000 after buying an additional 171,772 shares during the period. Renaissance Technologies LLC raised its position in Meridian Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 1,710,600 shares of the company’s stock worth $35,255,000 after buying an additional 136,024 shares during the period. Citadel Advisors LLC raised its position in Meridian Bioscience by 103.3% in the second quarter. Citadel Advisors LLC now owns 263,983 shares of the company’s stock worth $5,147,000 after buying an additional 134,153 shares during the period. Finally, Analytic Investors LLC raised its position in Meridian Bioscience by 69.4% in the second quarter. Analytic Investors LLC now owns 237,444 shares of the company’s stock worth $4,630,000 after buying an additional 97,247 shares during the period. Institutional investors own 88.04% of the company’s stock.
About Meridian Bioscience
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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