Meridian Bioscience (VIVO) Stock Rating Lowered by Zacks Investment Research

Meridian Bioscience (NASDAQ:VIVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

According to Zacks, “Meridian Bioscience, Inc. is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies that help deliver answers. Its products provide accuracy, simplicity and speed for the early diagnosis and treatment of common medical conditions, such as C. difficile, H. pylori, foodborne diseases and respiratory infections. In addition, the company develops and manufactures a variety of biological and non-biological materials used in proficiency testing programs. Meridian diagnostic products are used outside of the human body and require little or no special equipment. Meridian Bioscience designs their products to enhance the well-being of the patient-while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal infections, serology, parasitology and fungal disease diagnosis. “

Separately, 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. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Shares of Meridian Bioscience (VIVO) opened at $15.15 on Friday. Meridian Bioscience has a 12-month low of $10.75 and a 12-month high of $16.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.04 and a current ratio of 5.85. The stock has a market cap of $640.97, a P/E ratio of 22.28 and a beta of 0.90.

Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Meridian Bioscience had a net margin of 10.74% and a return on equity of 17.03%. The company had revenue of $49.70 million during the quarter, compared to the consensus estimate of $48.28 million. During the same period last year, the firm earned $0.14 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts anticipate that Meridian Bioscience will post 0.68 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Meridian Bioscience by 12.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 471,456 shares of the company’s stock worth $6,601,000 after purchasing an additional 51,976 shares during the last quarter. Greylin Investment Mangement Inc. raised its position in shares of Meridian Bioscience by 15.6% during the 4th quarter. Greylin Investment Mangement Inc. now owns 83,610 shares of the company’s stock worth $1,171,000 after purchasing an additional 11,275 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Meridian Bioscience by 90.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 13,020 shares of the company’s stock worth $182,000 after purchasing an additional 6,200 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Meridian Bioscience by 21.7% during the 3rd quarter. GSA Capital Partners LLP now owns 111,317 shares of the company’s stock worth $1,592,000 after purchasing an additional 19,817 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Meridian Bioscience during the 3rd quarter worth approximately $223,000. Hedge funds and other institutional investors own 86.82% of the company’s stock.

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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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