Meridian Bioscience Inc. (NASDAQ:VIVO) Receives Average Recommendation of “Hold” from Analysts
Meridian Bioscience Inc. (NASDAQ:VIVO) has been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $21.00.
A number of analysts have weighed in on the company. Zacks Investment Research lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Canaccord Genuity restated a “hold” rating and set a $20.00 target price on shares of Meridian Bioscience in a report on Monday, August 1st. Finally, Hilliard Lyons lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Friday, July 29th.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Meridian Bioscience by 40.5% in the second quarter. BlackRock Inc. now owns 5,415 shares of the company’s stock valued at $105,000 after buying an additional 1,560 shares during the last quarter. Bartlett & Co. LLC increased its position in Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock valued at $112,000 after buying an additional 900 shares during the last quarter. Teacher Retirement System of Texas increased its position in Meridian Bioscience by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,880 shares of the company’s stock valued at $115,000 after buying an additional 708 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Meridian Bioscience by 1,405.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,006 shares of the company’s stock valued at $117,000 after buying an additional 5,607 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in Meridian Bioscience during the second quarter valued at about $127,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.
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Meridian Bioscience (NASDAQ:VIVO) traded down 0.57% during trading on Tuesday, hitting $19.18. The stock had a trading volume of 134,172 shares. The company has a 50-day moving average of $19.30 and a 200 day moving average of $19.73. The firm has a market cap of $807.21 million, a P/E ratio of 22.83 and a beta of 1.06. Meridian Bioscience has a 52-week low of $16.60 and a 52-week high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The firm earned $50.70 million during the quarter, compared to analysts’ expectations of $52.85 million. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, equities research analysts predict that Meridian Bioscience will post $0.86 earnings per share for the current fiscal year.
About Meridian Bioscience
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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