Zacks Investment Research cut shares of Meridian Bioscience (NASDAQ:VIVO) from a buy rating to a hold rating in a report published on Friday.
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. “
Several other research firms also recently issued reports on VIVO. Canaccord Genuity lifted their price target on shares of Meridian Bioscience from $14.00 to $16.00 and gave the stock a hold rating in a research note on Friday, January 26th. BidaskClub downgraded shares of Meridian Bioscience from a hold rating to a sell rating in a research note on Saturday, February 3rd.
Meridian Bioscience stock opened at $14.70 on Friday. Meridian Bioscience has a 12-month low of $13.23 and a 12-month high of $16.45. The firm has a market cap of $615.58, a P/E ratio of 21.97 and a beta of 0.96. The company has a current ratio of 5.82, a quick ratio of 3.96 and a debt-to-equity ratio of 0.28.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings results on Thursday, January 25th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Meridian Bioscience had a net margin of 10.46% and a return on equity of 17.00%. The firm had revenue of $52.30 million for the quarter, compared to the consensus estimate of $49.00 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. equities analysts expect that Meridian Bioscience will post 0.72 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VIVO. Jane Street Group LLC bought a new stake in shares of Meridian Bioscience in the 4th quarter worth about $140,000. Verity Asset Management Inc. bought a new stake in shares of Meridian Bioscience in the 4th quarter worth about $161,000. Nisa Investment Advisors LLC increased its position in shares of Meridian Bioscience by 90.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 13,020 shares of the company’s stock worth $182,000 after purchasing an additional 6,200 shares during the last quarter. Advisor Group Inc. increased its position in shares of Meridian Bioscience by 57.9% in the 4th quarter. Advisor Group Inc. now owns 13,446 shares of the company’s stock worth $188,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Koch Industries Inc. bought a new stake in shares of Meridian Bioscience in the 4th quarter worth about $202,000. 90.95% of the stock is owned by institutional investors.
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Meridian Bioscience Company Profile
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.
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