Meridian Bioscience (NASDAQ:VIVO) Sees Strong Trading Volume

Meridian Bioscience, Inc. (NASDAQ:VIVO – Get Rating) saw strong trading volume on Wednesday . 960,729 shares traded hands during mid-day trading, an increase of 106% from the previous session’s volume of 467,327 shares.The stock last traded at $33.94 and had previously closed at $33.76.

Analyst Upgrades and Downgrades

VIVO has been the topic of several research analyst reports. StockNews.com cut Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. William Blair reissued a “market perform” rating on shares of Meridian Bioscience in a research report on Friday, November 25th.

Meridian Bioscience Price Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of 34.80 and a beta of 0.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.46 and a current ratio of 3.63. The stock has a fifty day moving average price of $32.82 and a 200-day moving average price of $32.45.

Meridian Bioscience (NASDAQ:VIVO – Get Rating) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $65.68 million for the quarter, compared to analysts’ expectations of $67.45 million. Meridian Bioscience had a net margin of 12.70% and a return on equity of 16.74%. Sell-side analysts forecast that Meridian Bioscience, Inc. will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Meridian Bioscience

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in Meridian Bioscience by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 41,308 shares of the company’s stock valued at $1,257,000 after buying an additional 341 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Meridian Bioscience during the second quarter valued at $2,668,000. Texas Permanent School Fund boosted its holdings in Meridian Bioscience by 2.0% in the second quarter. Texas Permanent School Fund now owns 31,495 shares of the company’s stock valued at $958,000 after purchasing an additional 626 shares during the last quarter. Arizona State Retirement System grew its position in Meridian Bioscience by 6.0% during the 2nd quarter. Arizona State Retirement System now owns 11,800 shares of the company’s stock worth $359,000 after purchasing an additional 664 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Meridian Bioscience by 1.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 55,898 shares of the company’s stock valued at $1,856,000 after buying an additional 732 shares during the last quarter. Institutional investors and hedge funds own 89.72% of the company’s stock.

Meridian Bioscience Company Profile

(Get Rating)

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; lateral flow immunoassay using fluorescent chemistry under the Curian brand; rapid immunoassay under the ImmunoCard and ImmunoCard STAT! brands; enzyme-linked immunoassays under the PREMIER brand; anodic stripping voltammetry under the LeadCare brands; and urea breath testing for H.