Analysts Set Meridian Bioscience, Inc. (VIVO) Target Price at $11.50
Meridian Bioscience, Inc. (NASDAQ:VIVO) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $11.50.
Several equities analysts have weighed in on VIVO shares. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Canaccord Genuity reiterated a “hold” rating and set a $14.00 price objective on shares of Meridian Bioscience in a research report on Friday, October 13th.
A number of institutional investors and hedge funds have recently made changes to their positions in VIVO. SG Capital Management LLC bought a new position in Meridian Bioscience during the third quarter valued at $5,235,000. Vanguard Group Inc. increased its position in Meridian Bioscience by 9.1% during the second quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock valued at $63,299,000 after acquiring an additional 334,480 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Meridian Bioscience during the second quarter valued at $4,618,000. Dimensional Fund Advisors LP increased its position in Meridian Bioscience by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock valued at $26,271,000 after acquiring an additional 240,143 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in Meridian Bioscience by 280.6% during the second quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock valued at $4,305,000 after acquiring an additional 201,519 shares during the last quarter. Institutional investors own 86.82% of the company’s stock.
Shares of Meridian Bioscience (NASDAQ:VIVO) traded up $0.35 during trading hours on Monday, reaching $15.45. 155,790 shares of the company’s stock traded hands, compared to its average volume of 344,645. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.85 and a quick ratio of 4.04. Meridian Bioscience has a twelve month low of $10.75 and a twelve month high of $17.50. The stock has a market capitalization of $653.65, a P/E ratio of 30.29 and a beta of 0.90.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.03%. The business had revenue of $49.70 million for the quarter, compared to the consensus estimate of $48.28 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts expect that Meridian Bioscience will post 0.66 EPS for the current year.
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.
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