Meridian Bioscience Inc. (NASDAQ:VIVO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

VIVO has been the subject of a number of other research reports. Canaccord Genuity lifted their target price on Meridian Bioscience from $13.00 to $15.00 and gave the stock a “hold” rating in a report on Wednesday, May 3rd. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Saturday, April 29th. Three analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $14.75.

Meridian Bioscience (NASDAQ VIVO) traded down 1.35% on Thursday, reaching $14.65. The company’s stock had a trading volume of 290,685 shares. Meridian Bioscience has a 12-month low of $10.75 and a 12-month high of $20.50. The company’s 50 day moving average price is $15.32 and its 200-day moving average price is $14.23. The stock has a market cap of $618.26 million, a PE ratio of 20.66 and a beta of 0.91.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.16. The business had revenue of $50.14 million during the quarter, compared to analyst estimates of $49.13 million. Meridian Bioscience had a return on equity of 18.02% and a net margin of 15.02%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 EPS. On average, equities analysts expect that Meridian Bioscience will post $0.68 EPS for the current year.

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Several hedge funds have recently modified their holdings of the company. Cardinal Capital Management raised its stake in shares of Meridian Bioscience by 22.1% in the second quarter. Cardinal Capital Management now owns 55,917 shares of the company’s stock valued at $881,000 after buying an additional 10,108 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake 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 valued at $157,000 after buying an additional 370 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Meridian Bioscience by 29.1% in the second quarter. Russell Investments Group Ltd. now owns 39,672 shares of the company’s stock valued at $625,000 after buying an additional 8,954 shares during the last quarter. Greylin Investment Mangement Inc. raised its stake in shares of Meridian Bioscience by 19.7% in the second quarter. Greylin Investment Mangement Inc. now owns 61,185 shares of the company’s stock valued at $964,000 after buying an additional 10,050 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Meridian Bioscience during the second quarter valued at approximately $261,000. 86.29% of the stock is owned by 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.

Analyst Recommendations for Meridian Bioscience (NASDAQ:VIVO)

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