Zacks Investment Research cut shares of Meridian Bioscience (NASDAQ:VIVO) from a buy rating to a hold rating in a report published on Sunday, January 21st.
According to Zacks, “Meridian Bioscience, Inc. is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies that help deliver answers. Its products provide accuracy, simplicity and speed for the early diagnosis and treatment of common medical conditions, such as C. difficile, H. pylori, foodborne diseases and respiratory infections. In addition, the company develops and manufactures a variety of biological and non-biological materials used in proficiency testing programs. Meridian diagnostic products are used outside of the human body and require little or no special equipment. Meridian Bioscience designs their products to enhance the well-being of the patient-while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal infections, serology, parasitology and fungal disease diagnosis. “
Separately, Canaccord Genuity reaffirmed a hold rating and set a $14.00 price target on shares of Meridian Bioscience in a research note on Friday, October 13th.
Shares of Meridian Bioscience (NASDAQ VIVO) traded up $0.25 on Friday, hitting $14.35. 253,959 shares of the stock traded hands, compared to its average volume of 293,105. The company has a market cap of $605.00, a PE ratio of 21.03 and a beta of 0.98. Meridian Bioscience has a one year low of $12.45 and a one year high of $16.45. The company has a quick ratio of 3.96, a current ratio of 5.82 and a debt-to-equity ratio of 0.28.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $52.30 million during the quarter, compared to analysts’ expectations of $49.00 million. Meridian Bioscience had a net margin of 10.46% and a return on equity of 17.00%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. equities research analysts forecast that Meridian Bioscience will post 0.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.50 annualized dividend and a dividend yield of 3.48%. Meridian Bioscience’s dividend payout ratio is presently 98.04%.
Large investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its stake in shares of Meridian Bioscience by 19.2% in the second quarter. Parametric Portfolio Associates LLC now owns 191,114 shares of the company’s stock valued at $3,010,000 after buying an additional 30,838 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Meridian Bioscience by 19.2% in the third quarter. OxFORD Asset Management LLP now owns 158,085 shares of the company’s stock valued at $2,245,000 after buying an additional 25,429 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Meridian Bioscience by 35.8% in the third quarter. Russell Investments Group Ltd. now owns 53,856 shares of the company’s stock valued at $770,000 after buying an additional 14,184 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Meridian Bioscience by 55.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 87,401 shares of the company’s stock valued at $1,250,000 after buying an additional 31,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Meridian Bioscience by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock valued at $26,271,000 after buying an additional 240,143 shares in the last quarter. 85.37% of the stock is owned by institutional investors and hedge funds.
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Meridian Bioscience Company Profile
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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