Meridian Bioscience Inc. (VIVO) Stock Rating Lowered by Zacks Investment Research
Meridian Bioscience Inc. (NASDAQ:VIVO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. “
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Canaccord Genuity increased their target price on shares of Meridian Bioscience from $13.00 to $15.00 and gave the stock a “hold” rating in a research report on Wednesday, May 3rd. Finally, CL King assumed coverage on shares of Meridian Bioscience in a report on Tuesday, March 28th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $14.75.
Meridian Bioscience (VIVO) traded up 1.32% during mid-day trading on Thursday, hitting $15.40. 26,350 shares of the stock were exchanged. Meridian Bioscience has a 52 week low of $10.75 and a 52 week high of $20.54. The company has a market capitalization of $649.91 million, a PE ratio of 21.72 and a beta of 0.90. The stock’s 50-day moving average is $14.67 and its 200 day moving average is $14.55.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The company had revenue of $54.13 million during the quarter, compared to analyst estimates of $51.16 million. Meridian Bioscience had a net margin of 15.02% and a return on equity of 18.02%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. On average, analysts anticipate that Meridian Bioscience will post $0.68 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Clark Estates Inc. NY acquired a new position in shares of Meridian Bioscience during the first quarter worth approximately $3,133,000. Legato Capital Management LLC boosted its position in shares of Meridian Bioscience by 1,280.0% in the first quarter. Legato Capital Management LLC now owns 29,132 shares of the company’s stock worth $2,111,000 after buying an additional 27,021 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Meridian Bioscience by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,200 shares of the company’s stock worth $237,000 after buying an additional 300 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Meridian Bioscience by 1,690.1% in the first quarter. Bank of Montreal Can now owns 12,280 shares of the company’s stock worth $169,000 after buying an additional 11,594 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in shares of Meridian Bioscience during the first quarter worth approximately $2,186,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
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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