Meridian Bioscience Inc. (VIVO) Stock Rating Upgraded by Zacks Investment Research
Meridian Bioscience Inc. (NASDAQ:VIVO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. “
VIVO has been the topic of several other reports. Canaccord Genuity reaffirmed a “hold” rating and issued a $20.00 target price on shares of Meridian Bioscience in a research report on Monday, August 1st. Hilliard Lyons lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.25.
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Meridian Bioscience (NASDAQ:VIVO) traded down 2.31% on Tuesday, hitting $19.05. The stock had a trading volume of 70,067 shares. Meridian Bioscience has a one year low of $17.42 and a one year high of $21.49. The stock has a 50-day moving average of $19.31 and a 200-day moving average of $19.61. The company has a market cap of $801.74 million, a PE ratio of 22.68 and a beta of 0.97.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. The company earned $50.70 million during the quarter, compared to analyst estimates of $52.85 million. During the same period in the prior year, the business earned $0.22 earnings per share. Meridian Bioscience’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts expect that Meridian Bioscience will post $0.86 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of 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 in the last quarter. Bartlett & Co. LLC boosted its position in shares of 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 in the last quarter. Teacher Retirement System of Texas boosted its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Meridian Bioscience during the second quarter valued at $127,000. 88.04% of the stock is currently owned by institutional investors.
Meridian Bioscience Company Profile
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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