Meridian Bioscience (NASDAQ:VIVO) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Separately, TheStreet upgraded shares of Meridian Bioscience from a “c+” rating to a “b” rating in a research report on Monday, July 2nd.
Meridian Bioscience stock opened at $14.72 on Friday. The company has a market cap of $631.69 million, a PE ratio of 21.97 and a beta of 0.79. The company has a current ratio of 5.73, a quick ratio of 3.89 and a debt-to-equity ratio of 0.27. Meridian Bioscience has a 1 year low of $13.53 and a 1 year high of $17.10.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Meridian Bioscience had a net margin of 11.49% and a return on equity of 16.97%. The company had revenue of $51.74 million for the quarter, compared to analysts’ expectations of $52.17 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Meridian Bioscience’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, analysts anticipate that Meridian Bioscience will post 0.7 earnings per share for the current fiscal year.
In other Meridian Bioscience news, Director John Mcilwraith purchased 2,000 shares of Meridian Bioscience stock in a transaction that occurred on Friday, August 24th. The shares were bought at an average price of $15.63 per share, for a total transaction of $31,260.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $93,780. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Meridian Bioscience by 9.6% in the second quarter. BlackRock Inc. now owns 5,901,032 shares of the company’s stock worth $93,827,000 after purchasing an additional 518,731 shares during the last quarter. Renaissance Technologies LLC increased its position in Meridian Bioscience by 9.1% in the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock worth $41,837,000 after purchasing an additional 220,500 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Meridian Bioscience by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,334 shares of the company’s stock worth $29,071,000 after purchasing an additional 9,714 shares during the last quarter. Systematic Financial Management LP increased its position in Meridian Bioscience by 11.3% in the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock worth $17,994,000 after purchasing an additional 114,687 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Meridian Bioscience by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $12,908,000 after purchasing an additional 13,937 shares during the last quarter. Institutional investors own 87.99% of the company’s stock.
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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