Shares of Meridian Bioscience, Inc. (NASDAQ:VIVO) have been assigned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.
A number of brokerages recently commented on VIVO. ValuEngine upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Canaccord Genuity restated a “sell” rating and issued a $8.00 price target on shares of Meridian Bioscience in a research report on Tuesday, November 19th. Zacks Investment Research cut Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, BidaskClub upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd.
Shares of NASDAQ VIVO traded down $0.12 during mid-day trading on Monday, reaching $9.66. The company had a trading volume of 303,291 shares, compared to its average volume of 483,422. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.03 and a current ratio of 6.92. Meridian Bioscience has a one year low of $7.63 and a one year high of $18.13. The firm has a market cap of $394.51 million, a price-to-earnings ratio of 14.21 and a beta of 0.37. The business’s 50-day simple moving average is $9.19 and its 200 day simple moving average is $10.26.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. Meridian Bioscience had a return on equity of 15.72% and a net margin of 12.13%. The company had revenue of $50.80 million for the quarter, compared to analysts’ expectations of $50.57 million. During the same quarter last year, the business earned $0.20 earnings per share. Meridian Bioscience’s revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Meridian Bioscience will post 0.3 EPS for the current year.
In other Meridian Bioscience news, CEO John P. Kenny acquired 20,000 shares of Meridian Bioscience stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $7.73 per share, with a total value of $154,600.00. Following the completion of the purchase, the chief executive officer now directly owns 198,324 shares of the company’s stock, valued at approximately $1,533,044.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Phillips acquired 10,000 shares of Meridian Bioscience stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $8.06 per share, for a total transaction of $80,600.00. Following the completion of the purchase, the director now directly owns 5,491 shares of the company’s stock, valued at $44,257.46. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in VIVO. Nuveen Asset Management LLC acquired a new stake in Meridian Bioscience in the second quarter valued at about $3,251,000. D. E. Shaw & Co. Inc. boosted its stake in Meridian Bioscience by 61.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 619,878 shares of the company’s stock valued at $7,364,000 after buying an additional 235,171 shares in the last quarter. Marshall Wace LLP boosted its stake in Meridian Bioscience by 285.5% in the second quarter. Marshall Wace LLP now owns 312,886 shares of the company’s stock valued at $3,717,000 after buying an additional 231,721 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Meridian Bioscience by 255.9% in the second quarter. Acadian Asset Management LLC now owns 320,309 shares of the company’s stock valued at $3,804,000 after buying an additional 230,299 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Meridian Bioscience by 301.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 200,600 shares of the company’s stock valued at $1,904,000 after buying an additional 150,600 shares in the last quarter. 89.15% 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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