Meridian Bioscience (NASDAQ:VIVO) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, ValuEngine reports.
Other analysts have also recently issued reports about the company. BidaskClub raised Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies raised Meridian Bioscience from an “underweight” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Wednesday, May 1st. Canaccord Genuity reissued a “sell” rating and set a $9.00 target price on shares of Meridian Bioscience in a research note on Wednesday, July 31st. Finally, Zacks Investment Research downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Friday, July 5th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Meridian Bioscience currently has a consensus rating of “Hold” and a consensus target price of $13.25.
Shares of NASDAQ:VIVO traded down $0.06 on Tuesday, hitting $10.70. 168,900 shares of the company’s stock were exchanged, compared to its average volume of 361,061. The stock’s 50-day moving average is $11.52. The stock has a market capitalization of $471.54 million, a P/E ratio of 14.46 and a beta of 0.32. Meridian Bioscience has a 1-year low of $10.67 and a 1-year high of $19.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 6.93 and a quick ratio of 4.75.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The business had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $49.81 million. Meridian Bioscience had a return on equity of 17.82% and a net margin of 12.65%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. Equities analysts predict that Meridian Bioscience will post 0.64 EPS for the current fiscal year.
In other Meridian Bioscience news, Director James M. Anderson bought 5,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were acquired at an average cost of $11.37 per share, with a total value of $56,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Coastal Capital Group Inc. purchased a new stake in shares of Meridian Bioscience during the second quarter worth about $25,000. Meeder Asset Management Inc. increased its position in shares of Meridian Bioscience by 196.7% during the first quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after acquiring an additional 1,029 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of Meridian Bioscience during the second quarter worth about $29,000. Quadrant Capital Group LLC increased its position in shares of Meridian Bioscience by 441.6% during the first quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $31,000 after acquiring an additional 1,528 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of Meridian Bioscience during the first quarter worth about $56,000. 89.69% of the stock is currently owned by institutional investors and hedge funds.
About Meridian Bioscience
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.
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