BidaskClub Downgrades Meridian Bioscience Inc. (VIVO) to Hold
Meridian Bioscience Inc. (NASDAQ:VIVO) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.
A number of other equities analysts have also recently issued reports on VIVO. Zacks Investment Research cut Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Canaccord Genuity raised their price target on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. Finally, CL King initiated coverage on Meridian Bioscience in a report on Tuesday, March 28th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Meridian Bioscience has an average rating of “Hold” and an average target price of $14.75.
Shares of Meridian Bioscience (NASDAQ VIVO) traded up 0.489% on Thursday, reaching $15.425. The company’s stock had a trading volume of 99,402 shares. The stock has a 50-day moving average of $14.67 and a 200 day moving average of $14.56. The stock has a market capitalization of $650.97 million, a price-to-earnings ratio of 21.756 and a beta of 0.91. Meridian Bioscience has a 52 week low of $10.75 and a 52 week high of $20.68.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Friday, April 28th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $54.13 million during the quarter, compared to analysts’ expectations of $51.16 million. During the same period in the prior year, the firm posted $0.24 EPS. Meridian Bioscience’s quarterly revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Meridian Bioscience will post $0.68 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in VIVO. Bessemer Group Inc. boosted its stake in Meridian Bioscience by 14.2% in the fourth quarter. Bessemer Group Inc. now owns 78,800 shares of the company’s stock worth $1,395,000 after buying an additional 9,800 shares in the last quarter. Renaissance Technologies LLC boosted 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 in the last quarter. Highbridge Capital Management LLC acquired a new stake in Meridian Bioscience during the first quarter worth $1,279,000. Stanley Laman Group Ltd. boosted its stake in Meridian Bioscience by 105.3% in the fourth quarter. Stanley Laman Group Ltd. now owns 148,233 shares of the company’s stock worth $3,042,000 after buying an additional 76,042 shares in the last quarter. Finally, BTIM Corp. acquired a new stake in Meridian Bioscience during the fourth quarter worth $17,604,000. 86.43% of the stock is owned by hedge funds and other institutional investors.
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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