Zacks: Analysts Expect Meridian Bioscience Inc. (VIVO) Will Announce Quarterly Sales of $47.70 Million
Brokerages expect Meridian Bioscience Inc. (NASDAQ:VIVO) to announce $47.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Meridian Bioscience’s earnings, with the highest sales estimate coming in at $47.72 million and the lowest estimate coming in at $47.68 million. Meridian Bioscience posted sales of $47.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.5%. The firm is expected to announce its next earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Meridian Bioscience will report full year sales of $47.70 million for the current financial year, with estimates ranging from $197.00 million to $198.79 million. For the next year, analysts expect that the company will post sales of $204.51 million per share, with estimates ranging from $203.53 million to $205.01 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Meridian Bioscience had a return on equity of 16.93% and a net margin of 10.77%. The business had revenue of $50.14 million for the quarter, compared to analyst estimates of $49.13 million. During the same quarter last year, the firm posted $0.21 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year.
Several brokerages have recently commented on VIVO. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Saturday, April 29th. Canaccord Genuity upped their price target on Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a research note on Wednesday, May 3rd. Finally, BidaskClub lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.75.
Shares of Meridian Bioscience (NASDAQ VIVO) opened at 13.80 on Wednesday. Meridian Bioscience has a 1-year low of $10.75 and a 1-year high of $19.85. The stock has a market cap of $582.40 million, a price-to-earnings ratio of 27.60 and a beta of 0.89. The firm has a 50-day moving average price of $14.74 and a 200-day moving average price of $14.00.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.62%. The ex-dividend date is Thursday, August 3rd. Meridian Bioscience’s payout ratio is 98.04%.
A number of institutional investors have recently bought and sold shares of the company. Karp Capital Management Corp purchased a new position in Meridian Bioscience during the first quarter valued at about $507,000. Highbridge Capital Management LLC purchased a new position in Meridian Bioscience during the first quarter valued at about $1,279,000. Wells Fargo & Company MN raised its position in 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 last quarter. Citadel Advisors LLC raised its position in Meridian Bioscience by 142.8% in the first quarter. Citadel Advisors LLC now owns 166,326 shares of the company’s stock valued at $2,295,000 after buying an additional 97,822 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in Meridian Bioscience by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 69,137 shares of the company’s stock valued at $1,224,000 after buying an additional 1,828 shares during the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.
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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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