Meridian Bioscience Inc. (VIVO) Given Average Rating of “Hold” by Analysts
Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) have received a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.33.
Several equities analysts have recently issued reports on VIVO shares. CL King started coverage on Meridian Bioscience in a research report on Tuesday, March 28th. They set a “neutral” rating on the stock. Canaccord Genuity lifted their price target on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Saturday, April 29th.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 15.40 on Tuesday. Meridian Bioscience has a 52-week low of $10.75 and a 52-week high of $20.68. The firm’s 50-day moving average price is $14.49 and its 200-day moving average price is $14.64. The stock has a market capitalization of $649.91 million, a P/E ratio of 21.72 and a beta of 0.96.
Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Friday, April 28th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Meridian Bioscience had a return on equity of 18.02% and a net margin of 15.02%. The firm had revenue of $54.13 million for the quarter, compared to analysts’ expectations of $51.16 million. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities analysts forecast that Meridian Bioscience will post $0.68 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Meridian Bioscience by 15.2% in the fourth quarter. State Street Corp now owns 1,080,077 shares of the company’s stock valued at $19,118,000 after buying an additional 142,431 shares during the period. Martingale Asset Management L P boosted its position in shares of Meridian Bioscience by 9.8% in the fourth quarter. Martingale Asset Management L P now owns 245,771 shares of the company’s stock valued at $4,351,000 after buying an additional 22,008 shares during the period. LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Meridian Bioscience during the fourth quarter valued at about $927,000. FMR LLC purchased a new position in shares of Meridian Bioscience during the fourth quarter valued at about $2,515,000. Finally, Wells Fargo & Company MN boosted its position in shares of Meridian Bioscience by 50.2% in the first quarter. Wells Fargo & Company MN now owns 767,606 shares of the company’s stock valued at $10,593,000 after buying an additional 256,571 shares during the period. Institutional investors own 86.43% of the company’s stock.
About Meridian Bioscience
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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