$47.70 Million in Sales Expected for Meridian Bioscience Inc. (VIVO) This Quarter
Analysts expect that Meridian Bioscience Inc. (NASDAQ:VIVO) will report $47.70 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Meridian Bioscience’s earnings. The lowest sales estimate is $47.68 million and the highest is $47.72 million. Meridian Bioscience posted sales of $47.00 million in the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The business is expected to announce its next earnings results on Thursday, November 9th.
On average, analysts expect that Meridian Bioscience will report full year sales of $47.70 million for the current year, with estimates ranging from $197.00 million to $198.79 million. For the next financial year, analysts forecast that the business will report sales of $204.51 million per share, with estimates ranging from $203.53 million to $205.01 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued 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 firm had revenue of $50.14 million for the quarter, compared to analysts’ expectations of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.21 earnings per share.
A number of equities analysts have weighed in on the company. BidaskClub cut Meridian Bioscience from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.75.
In other Meridian Bioscience news, Chairman John A. Kraeutler bought 7,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $13.67 per share, with a total value of $95,690.00. Following the transaction, the chairman now directly owns 345,230 shares in the company, valued at approximately $4,719,294.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. raised its position in shares of Meridian Bioscience by 0.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 13,091 shares of the company’s stock valued at $206,000 after acquiring an additional 92 shares in the last quarter. Arizona State Retirement System raised its position in shares of Meridian Bioscience by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 22,041 shares of the company’s stock valued at $347,000 after acquiring an additional 100 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Meridian Bioscience by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 30,813 shares of the company’s stock valued at $485,000 after acquiring an additional 258 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Meridian Bioscience by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the company’s stock valued at $237,000 after acquiring an additional 300 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of Meridian Bioscience by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,950 shares of the company’s stock valued at $157,000 after acquiring an additional 370 shares in the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meridian Bioscience (NASDAQ:VIVO) opened at 14.05 on Friday. The firm has a market cap of $592.95 million, a PE ratio of 28.10 and a beta of 0.86. The company has a 50-day moving average of $13.83 and a 200 day moving average of $14.20. Meridian Bioscience has a one year low of $10.75 and a one year high of $19.85.
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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