Wall Street brokerages expect Meridian Bioscience Inc. (NASDAQ:VIVO) to report sales of $47.70 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Meridian Bioscience’s earnings, with the lowest sales estimate coming in at $47.68 million and the highest estimate coming in at $47.72 million. Meridian Bioscience posted sales of $47.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.5%. The firm is expected to issue its next earnings results on Thursday, November 9th.

According to Zacks, analysts expect that Meridian Bioscience will report full-year sales of $47.70 million for the current fiscal year, with estimates ranging from $197.00 million to $198.79 million. For the next year, analysts forecast that the business 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 an average based on a survey of research analysts that that provide coverage for Meridian Bioscience.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The business had revenue of $50.14 million for the quarter, compared to analyst estimates of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 EPS.

Several analysts recently issued reports on VIVO shares. BidaskClub downgraded shares of Meridian Bioscience from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.33.

In other news, Chairman John A. Kraeutler acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $13.67 per share, with a total value of $95,690.00. Following the acquisition, the chairman now owns 345,230 shares in the company, valued at $4,719,294.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Meridian Bioscience during the 1st quarter worth $105,000. Advisor Group Inc. boosted its holdings in shares of Meridian Bioscience by 24.9% during the 2nd quarter. Advisor Group Inc. now owns 7,720 shares of the company’s stock worth $122,000 after buying an additional 1,537 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Meridian Bioscience by 77.5% during the 2nd 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 period. BNP Paribas Arbitrage SA boosted its holdings in shares of Meridian Bioscience by 12.5% during the 1st 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 period. Finally, Mason Street Advisors LLC boosted its holdings in shares of Meridian Bioscience by 7.2% during the 1st 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 period. 87.30% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Zacks: Brokerages Expect Meridian Bioscience Inc. (VIVO) Will Announce Quarterly Sales of $47.70 Million” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/11/zacks-brokerages-expect-meridian-bioscience-inc-vivo-will-announce-quarterly-sales-of-47-70-million.html.

Meridian Bioscience (VIVO) traded up 0.170% during trading on Wednesday, hitting $14.725. 19,545 shares of the company traded hands. Meridian Bioscience has a one year low of $10.75 and a one year high of $19.55. The firm has a 50 day moving average of $14.11 and a 200 day moving average of $14.33. The firm has a market cap of $621.44 million, a P/E ratio of 29.450 and a beta of 0.84.

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.

Get a free copy of the Zacks research report on Meridian Bioscience (VIVO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Meridian Bioscience Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meridian Bioscience Inc. and related companies with MarketBeat.com's FREE daily email newsletter.