Zacks: Brokerages Anticipate Meridian Bioscience, Inc. (VIVO) Will Announce Quarterly Sales of $49.74 Million

Brokerages expect that Meridian Bioscience, Inc. (NASDAQ:VIVO) will announce sales of $49.74 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Meridian Bioscience’s earnings, with the highest sales estimate coming in at $50.03 million and the lowest estimate coming in at $49.44 million. Meridian Bioscience reported sales of $46.81 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.3%. The company is scheduled to issue its next earnings report on Wednesday, January 24th.

On average, analysts expect that Meridian Bioscience will report full-year sales of $49.74 million for the current year, with estimates ranging from $205.20 million to $220.11 million. For the next year, analysts anticipate that the company will report sales of $214.47 million per share, with estimates ranging from $212.93 million to $216.01 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Meridian Bioscience.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Thursday, November 9th. The company reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The firm had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $48.28 million. Meridian Bioscience had a return on equity of 17.03% and a net margin of 10.74%. Meridian Bioscience’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS.

A number of analysts have issued reports on the company. Canaccord Genuity reaffirmed a “hold” rating and set a $14.00 price target on shares of Meridian Bioscience in a report on Friday, October 13th. Zacks Investment Research raised Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.50.

Institutional investors have recently bought and sold shares of the company. Advisor Group Inc. lifted its holdings in shares of Meridian Bioscience by 24.9% in the 2nd quarter. Advisor Group Inc. now owns 7,720 shares of the company’s stock valued at $122,000 after purchasing an additional 1,537 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Meridian Bioscience in the 3rd quarter valued at about $166,000. Petrus Trust Company LTA purchased a new stake in shares of Meridian Bioscience in the 2nd quarter valued at about $178,000. Eqis Capital Management Inc. purchased a new stake in shares of Meridian Bioscience in the 3rd quarter valued at about $184,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Meridian Bioscience by 0.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 13,091 shares of the company’s stock valued at $206,000 after purchasing an additional 92 shares during the last quarter. 86.82% of the stock is owned by institutional investors and hedge funds.

Shares of Meridian Bioscience (VIVO) traded up $0.40 during midday trading on Thursday, reaching $15.10. The company’s stock had a trading volume of 337,800 shares, compared to its average volume of 250,971. The stock has a market cap of $645.19, a P/E ratio of 29.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.85 and a quick ratio of 4.04. Meridian Bioscience has a 12 month low of $10.75 and a 12 month high of $17.50.

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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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