Meridian Bioscience Inc. (VIVO) Sees Unusually-High Trading Volume
Meridian Bioscience Inc. (NASDAQ:VIVO) shares saw strong trading volume on Friday . 264,047 shares changed hands during mid-day 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.
VIVO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Canaccord Genuity reiterated a “hold” rating on shares of Meridian Bioscience in a research note on Wednesday, June 29th. Robert W. Baird reiterated a “hold” rating and set a $20.00 price target on shares of Meridian Bioscience in a research note on Tuesday, March 29th. Finally, Hilliard Lyons upgraded shares of Meridian Bioscience from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Monday, March 28th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.00.
The company has a 50-day moving average price of $19.58 and a 200 day moving average price of $19.70. The stock has a market capitalization of $852.00 million and a P/E ratio of 24.11.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by $0.00. The firm had revenue of $51.30 million for the quarter, compared to the consensus estimate of $52.10 million. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Analysts expect that Meridian Bioscience Inc. will post $0.88 earnings per share for the current year.
In other Meridian Bioscience news, Director Catherine Sazdanoff acquired 7,700 shares of the firm’s stock in a transaction on Friday, April 29th. The stock was purchased 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 directly owns 7,700 shares in the company, valued at approximately $147,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors have added to or reduced their stakes in the company. 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. GSA Capital Partners LLP increased its position in shares of 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. Gabelli Funds LLC increased its position in shares of 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 shares of 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. Finally, California State Teachers Retirement System increased its position in shares of 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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