Meridian Bioscience Inc. (VIVO) Rating Reiterated by Canaccord Genuity
Meridian Bioscience Inc. (NASDAQ:VIVO)‘s stock had its “neutral” rating reaffirmed by investment analysts at Canaccord Genuity in a report released on Wednesday.
Other research analysts also recently issued reports about the stock. Hilliard Lyons downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Meridian Bioscience currently has a consensus rating of “Hold” and an average price target of $21.25.
Meridian Bioscience (NASDAQ:VIVO) traded down 3.619% on Wednesday, hitting $17.975. The stock had a trading volume of 394,259 shares. The company has a market capitalization of $756.50 million, a PE ratio of 21.399 and a beta of 0.97. Meridian Bioscience has a 12-month low of $17.00 and a 12-month high of $21.49. The company has a 50 day moving average of $19.25 and a 200 day moving average of $19.53.
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Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The firm had revenue of $50.70 million for the quarter, compared to analyst estimates of $52.85 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities analysts expect that Meridian Bioscience will post $0.86 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new stake in Meridian Bioscience during the second quarter worth $3,870,000. Vanguard Group Inc. increased its stake in Meridian Bioscience by 5.3% in the second quarter. Vanguard Group Inc. now owns 3,417,303 shares of the company’s stock worth $66,637,000 after buying an additional 171,772 shares during the last quarter. Renaissance Technologies LLC increased its stake in Meridian Bioscience by 8.6% in the first quarter. Renaissance Technologies LLC now owns 1,710,600 shares of the company’s stock worth $35,255,000 after buying an additional 136,024 shares during the last quarter. Citadel Advisors LLC increased its stake in Meridian Bioscience by 103.3% in the second quarter. Citadel Advisors LLC now owns 263,983 shares of the company’s stock worth $5,147,000 after buying an additional 134,153 shares during the last quarter. Finally, Analytic Investors LLC increased its stake in Meridian Bioscience by 69.4% in the second quarter. Analytic Investors LLC now owns 237,444 shares of the company’s stock worth $4,630,000 after buying an additional 97,247 shares during the last quarter. Institutional investors own 88.11% of the company’s stock.
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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