Canaccord Genuity reaffirmed their hold rating on shares of Meridian Bioscience Inc. (NASDAQ:VIVO) in a research note issued to investors on Friday. Canaccord Genuity currently has a $14.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Meridian Bioscience from a buy rating to a hold rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Meridian Bioscience from a sell rating to a hold rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $14.00.

Shares of Meridian Bioscience (NASDAQ VIVO) opened at 14.70 on Friday. The firm has a market capitalization of $620.38 million, a P/E ratio of 29.40 and a beta of 0.84. Meridian Bioscience has a 52-week low of $10.75 and a 52-week high of $18.90. The company’s 50-day moving average is $14.22 and its 200 day moving average is $14.35.

Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The business had revenue of $50.14 million for the quarter, compared to analysts’ expectations of $49.13 million. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Meridian Bioscience will post $0.67 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/10/16/meridian-biosciences-vivo-hold-rating-reiterated-at-canaccord-genuity.html.

In other Meridian Bioscience news, Chairman John A. Kraeutler purchased 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was bought at an average price of $13.67 per share, with a total value of $95,690.00. Following the completion of the purchase, the chairman now directly owns 345,230 shares of the company’s stock, valued at approximately $4,719,294.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Meridian Bioscience by 9.1% in the second quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock worth $63,299,000 after acquiring an additional 334,480 shares during the period. Renaissance Technologies LLC lifted its stake in Meridian Bioscience by 6.1% in the first quarter. Renaissance Technologies LLC now owns 1,988,276 shares of the company’s stock worth $27,438,000 after acquiring an additional 115,076 shares during the period. Dimensional Fund Advisors LP lifted its stake in Meridian Bioscience by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock worth $26,271,000 after acquiring an additional 240,143 shares during the period. State Street Corp lifted its stake in Meridian Bioscience by 15.2% in the first quarter. State Street Corp now owns 1,243,847 shares of the company’s stock worth $17,164,000 after acquiring an additional 163,770 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Meridian Bioscience by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 863,183 shares of the company’s stock worth $13,595,000 after acquiring an additional 9,713 shares during the period. 87.29% of the stock is owned by institutional investors.

About Meridian Bioscience

Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.

Receive News & Ratings for Meridian Bioscience Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bioscience Inc. and related companies with MarketBeat.com's FREE daily email newsletter.