Meridian Bioscience, Inc. (VIVO) Expected to Post Quarterly Sales of $49.41 Million
Equities research analysts expect that Meridian Bioscience, Inc. (NASDAQ:VIVO) will post sales of $49.41 million for the current quarter, Zacks reports. Two analysts have issued estimates for Meridian Bioscience’s earnings. The lowest sales estimate is $49.39 million and the highest is $49.42 million. Meridian Bioscience posted sales of $50.67 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.5%. The business is expected to announce its next earnings report on Thursday, July 27th.
According to Zacks, analysts expect that Meridian Bioscience will report full year sales of $49.41 million for the current financial year, with estimates ranging from $194.2 million to $198.8 million. For the next financial year, analysts forecast that the company will post sales of $203.16 million per share, with estimates ranging from $202.56 million to $203.49 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Friday, April 28th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $54.13 million during the quarter, compared to analyst estimates of $51.16 million. Meridian Bioscience had a return on equity of 18.51% and a net margin of 15.13%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS.
Several research firms have recently weighed in on VIVO. Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Tuesday, January 17th. Piper Jaffray Companies set a $9.00 price objective on Meridian Bioscience and gave the company a “sell” rating in a research note on Wednesday, January 25th. Canaccord Genuity upped their price objective on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. CL King began coverage on Meridian Bioscience in a research note on Tuesday, March 28th. They issued a “neutral” rating on the stock. Finally, Craig Hallum lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.75.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 14.65 on Friday. The company has a market cap of $618.26 million, a P/E ratio of 20.66 and a beta of 1.00. The company has a 50 day moving average price of $13.91 and a 200 day moving average price of $15.13. Meridian Bioscience has a one year low of $10.75 and a one year high of $20.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 18th. Stockholders of record on Monday, May 8th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.50 annualized dividend and a dividend yield of 3.41%. Meridian Bioscience’s dividend payout ratio is currently 71.43%.
Several large investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP raised its stake in Meridian Bioscience by 15.8% in the fourth quarter. Systematic Financial Management LP now owns 100,867 shares of the company’s stock valued at $1,785,000 after buying an additional 13,755 shares in the last quarter. FMR LLC acquired a new stake in Meridian Bioscience during the fourth quarter worth approximately $2,515,000. Martingale Asset Management L P raised its stake in Meridian Bioscience by 9.8% in the fourth quarter. Martingale Asset Management L P now owns 245,771 shares of the company’s stock worth $4,351,000 after buying an additional 22,008 shares during the period. Teza Capital Management LLC acquired a new stake in Meridian Bioscience during the fourth quarter worth approximately $185,000. Finally, State Street Corp raised its stake in Meridian Bioscience by 15.2% in the fourth quarter. State Street Corp now owns 1,080,077 shares of the company’s stock worth $19,118,000 after buying an additional 142,431 shares during the period. Institutional investors own 87.90% of the company’s stock.
Meridian Bioscience Company Profile
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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