Shares of Meridian Bioscience Inc. (NASDAQ:VIVO) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.50.

A number of research firms have recently issued reports on VIVO. Zacks Investment Research downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Canaccord Genuity reiterated a “hold” rating and set a $14.00 price target on shares of Meridian Bioscience in a research report on Friday, October 13th. Finally, BidaskClub downgraded shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th.

In related news, Chairman John A. Kraeutler purchased 7,000 shares of Meridian Bioscience stock in a transaction dated Thursday, August 24th. The stock was bought at an average cost of $13.67 per share, for a total transaction of $95,690.00. Following the transaction, the chairman now owns 345,230 shares in the company, valued at $4,719,294.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of VIVO. Vanguard Group Inc. lifted its position in shares of Meridian Bioscience by 9.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock valued at $63,299,000 after acquiring an additional 334,480 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in shares of Meridian Bioscience during the 2nd quarter worth approximately $4,618,000. Dimensional Fund Advisors LP raised its position in shares of Meridian Bioscience by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,667,971 shares of the company’s stock worth $26,271,000 after purchasing an additional 240,143 shares during the last quarter. FMR LLC raised its position in shares of Meridian Bioscience by 148.5% during the 1st quarter. FMR LLC now owns 353,141 shares of the company’s stock worth $4,873,000 after purchasing an additional 211,023 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Meridian Bioscience by 280.6% during the 2nd quarter. Prudential Financial Inc. now owns 273,330 shares of the company’s stock worth $4,305,000 after purchasing an additional 201,519 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

Shares of Meridian Bioscience (VIVO) opened at 14.50 on Wednesday. The firm’s 50-day moving average price is $14.45 and its 200 day moving average price is $14.44. Meridian Bioscience has a 1-year low of $10.75 and a 1-year high of $18.58. The stock has a market capitalization of $611.94 million, a price-to-earnings ratio of 29.00 and a beta of 0.84.

Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $49.13 million. During the same period last year, the firm earned $0.21 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts expect that Meridian Bioscience will post $0.68 earnings per share for the current fiscal year.

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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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