Meridian Bioscience Inc. (VIVO) Stock Rating Reaffirmed by Canaccord Genuity
Meridian Bioscience Inc. (NASDAQ:VIVO)‘s stock had its “neutral” rating reiterated by analysts at Canaccord Genuity in a report issued on Wednesday.
A number of other research analysts have also issued reports on VIVO. Zacks Investment Research lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. Hilliard Lyons lowered shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.25.
Shares of Meridian Bioscience (NASDAQ:VIVO) traded down 3.75% during trading on Wednesday, reaching $17.95. The company had a trading volume of 380,748 shares. The firm has a market capitalization of $755.44 million, a PE ratio of 21.37 and a beta of 0.97. The firm has a 50-day moving average of $19.25 and a 200 day moving average of $19.53. Meridian Bioscience has a 1-year low of $17.00 and a 1-year high of $21.49.
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Meridian Bioscience (NASDAQ:VIVO) last posted its 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 had revenue of $50.70 million for the quarter, compared to analyst estimates of $52.85 million. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Analysts expect that Meridian Bioscience will post $0.86 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in Meridian Bioscience by 23.0% in the first quarter. Aperio Group LLC now owns 15,942 shares of the company’s stock worth $329,000 after buying an additional 2,986 shares during the period. Teachers Advisors Inc. increased its stake in Meridian Bioscience by 2.7% in the first quarter. Teachers Advisors Inc. now owns 64,329 shares of the company’s stock worth $1,326,000 after buying an additional 1,664 shares during the period. Prudential Financial Inc. increased its stake in Meridian Bioscience by 3.9% in the first quarter. Prudential Financial Inc. now owns 100,591 shares of the company’s stock worth $2,073,000 after buying an additional 3,800 shares during the last quarter. BlackRock Group LTD increased its stake in Meridian Bioscience by 4.6% in the first quarter. BlackRock Group LTD now owns 68,586 shares of the company’s stock worth $1,413,000 after buying an additional 3,005 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Meridian Bioscience by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,118,070 shares of the company’s stock worth $23,043,000 after buying an additional 15,697 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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