Meridian Bioscience Inc. (NASDAQ:VIVO) Announces Quarterly Earnings Results
Meridian Bioscience Inc. (NASDAQ:VIVO) issued its quarterly earnings data on Thursday. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16, Briefing.com reports. Meridian Bioscience had a return on equity of 18.02% and a net margin of 15.02%. The business had revenue of $50.14 million for the quarter, compared to analysts’ expectations of $49.13 million. During the same period last year, the business earned $0.21 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Meridian Bioscience updated its FY17 guidance to $0.64-0.69 EPS.
Meridian Bioscience (VIVO) traded down 1.01% during midday trading on Thursday, hitting $14.70. The stock had a trading volume of 171,707 shares. Meridian Bioscience has a 52 week low of $10.75 and a 52 week high of $20.50. The firm has a market cap of $620.37 million, a price-to-earnings ratio of 20.73 and a beta of 0.91. The firm has a 50 day moving average of $15.32 and a 200 day moving average of $14.23.
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Several equities analysts have weighed in on VIVO shares. Canaccord Genuity raised 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. Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Saturday, April 29th. Finally, BidaskClub cut Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Meridian Bioscience presently has a consensus rating of “Hold” and a consensus price target of $14.75.
Several large investors have recently added to or reduced their stakes in VIVO. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Meridian Bioscience during the first quarter worth approximately $105,000. State of Alaska Department of Revenue increased its position in shares of Meridian Bioscience by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 8,273 shares of the company’s stock worth $130,000 after buying an additional 3,613 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Meridian Bioscience by 12.5% in the first quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the company’s stock worth $119,000 after buying an additional 960 shares during the last quarter. Mason Street Advisors LLC increased its position in shares of Meridian Bioscience by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock worth $136,000 after buying an additional 667 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Meridian Bioscience by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock worth $157,000 after buying an additional 370 shares during the last quarter. 86.29% of the stock is currently owned by hedge funds and other institutional investors.
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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