Analysts expect Meridian Bioscience, Inc. (NASDAQ:VIVO) to post $54.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Meridian Bioscience’s earnings. The highest sales estimate is $55.30 million and the lowest is $53.47 million. Meridian Bioscience posted sales of $54.13 million during the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Meridian Bioscience will report full-year sales of $210.27 million for the current year, with estimates ranging from $209.60 million to $210.70 million. For the next fiscal year, analysts expect that the firm will report sales of $219.50 million per share, with estimates ranging from $218.90 million to $220.10 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, January 25th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Meridian Bioscience had a return on equity of 17.00% and a net margin of 10.46%. The business had revenue of $52.30 million during the quarter, compared to analysts’ expectations of $49.00 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year.
VIVO has been the subject of a number of research analyst reports. BidaskClub raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Zacks Investment Research raised Meridian Bioscience from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday, March 21st. Finally, Canaccord Genuity increased their target price on Meridian Bioscience from $14.00 to $16.00 and gave the company a “hold” rating in a report on Friday, January 26th.
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Meridian Bioscience by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 871,560 shares of the company’s stock valued at $12,463,000 after purchasing an additional 8,377 shares during the last quarter. Russell Investments Group Ltd. increased its holdings 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 purchasing an additional 14,184 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Meridian Bioscience by 4.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 419,480 shares of the company’s stock valued at $5,999,000 after purchasing an additional 17,488 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Meridian Bioscience by 4.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,748,848 shares of the company’s stock valued at $25,008,000 after purchasing an additional 80,877 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Meridian Bioscience by 90.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 13,020 shares of the company’s stock valued at $182,000 after purchasing an additional 6,200 shares during the last quarter. 90.95% of the stock is owned by institutional investors and hedge funds.
Shares of Meridian Bioscience stock opened at $14.55 on Friday. Meridian Bioscience has a 12 month low of $13.23 and a 12 month high of $16.45. The company has a market cap of $624.04, a price-to-earnings ratio of 21.72 and a beta of 0.96. The company has a quick ratio of 3.96, a current ratio of 5.82 and a debt-to-equity ratio of 0.28.
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About Meridian Bioscience
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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