Meridian Bioscience, Inc. (NASDAQ:VIVO) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Stockholders of record on Monday, November 19th will be paid a dividend of 0.125 per share on Friday, November 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, November 16th.
Meridian Bioscience has decreased its dividend by an average of 14.5% per year over the last three years. Meridian Bioscience has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Meridian Bioscience to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 62.5%.
Shares of Meridian Bioscience stock opened at $19.72 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.89 and a current ratio of 5.73. The company has a market cap of $719.87 million, a PE ratio of 26.65 and a beta of 0.54. Meridian Bioscience has a twelve month low of $13.53 and a twelve month high of $19.84.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The business had revenue of $213.60 million for the quarter, compared to analysts’ expectations of $51.11 million. Meridian Bioscience had a return on equity of 16.97% and a net margin of 11.49%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. As a group, research analysts expect that Meridian Bioscience will post 0.77 EPS for the current year.
VIVO has been the topic of several analyst reports. BidaskClub upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. ValuEngine upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Finally, Zacks Investment Research upgraded Meridian Bioscience from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $19.50.
In other Meridian Bioscience news, Director John Mcilwraith bought 2,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were purchased at an average cost of $15.63 per share, for a total transaction of $31,260.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $93,780. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.
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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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