Meridian Bioscience Inc. (VIVO) Updates FY16 Earnings Guidance
Meridian Bioscience Inc. (NASDAQ:VIVO) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.79-0.80 for the period, compared to the Thomson Reuters consensus estimate of $0.86. The company issued revenue guidance of ~$196 million, compared to the consensus revenue estimate of $198.43 million.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Meridian Bioscience from a sell rating to a hold rating in a research note on Wednesday, July 13th. Canaccord Genuity restated a hold rating on shares of Meridian Bioscience in a research note on Wednesday, June 29th. Finally, Hilliard Lyons lowered Meridian Bioscience from a buy rating to a hold rating in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $21.25.
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) traded up 0.27% during mid-day trading on Tuesday, reaching $18.65. The company’s stock had a trading volume of 98,470 shares. The firm has a 50 day moving average price of $19.27 and a 200 day moving average price of $19.54. The firm has a market cap of $784.90 million, a price-to-earnings ratio of 22.20 and a beta of 0.97. Meridian Bioscience Inc. has a 52-week low of $17.63 and a 52-week high of $21.49.
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Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, July 28th. The company reported $0.21 EPS 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 business had revenue of $50.70 million for the quarter, compared to the consensus estimate of $52.85 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Meridian Bioscience Inc. will post $0.86 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Meridian Bioscience by 1.4% in the second quarter. Arizona State Retirement System now owns 21,841 shares of the company’s stock valued at $426,000 after buying an additional 300 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Meridian Bioscience by 4.4% in the second quarter. BlackRock Advisors LLC now owns 20,604 shares of the company’s stock valued at $402,000 after buying an additional 876 shares during the last quarter. Rhumbline Advisers boosted its stake in Meridian Bioscience by 0.8% in the second quarter. Rhumbline Advisers now owns 122,224 shares of the company’s stock valued at $2,383,000 after buying an additional 940 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Meridian Bioscience by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 20,530 shares of the company’s stock valued at $400,000 after buying an additional 1,260 shares during the last quarter. Finally, BlackRock Inc. boosted its stake 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. Institutional investors own 88.11% of the company’s stock.
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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