Meridian Bioscience (NASDAQ:VIVO) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of Meridian Bioscience (NASDAQ:VIVO) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

VIVO has been the subject of several other research reports. Canaccord Genuity reiterated a sell rating and issued a $9.00 target price on shares of Meridian Bioscience in a report on Wednesday, July 31st. Zacks Investment Research downgraded shares of Meridian Bioscience from a hold rating to a sell rating in a report on Friday, July 5th. Finally, ValuEngine downgraded shares of Meridian Bioscience from a hold rating to a sell rating in a report on Tuesday, August 13th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company has a consensus rating of Sell and an average target price of $13.25.

Shares of NASDAQ VIVO traded up $0.07 during midday trading on Thursday, reaching $9.89. 8,376 shares of the stock were exchanged, compared to its average volume of 200,261. The company has a 50 day simple moving average of $10.31 and a 200 day simple moving average of $12.44. The stock has a market capitalization of $416.86 million, a P/E ratio of 13.36 and a beta of 0.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.75 and a current ratio of 6.93. Meridian Bioscience has a twelve month low of $8.96 and a twelve month high of $19.84.



Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. The business had revenue of $48.40 million during the quarter, compared to the consensus estimate of $49.81 million. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. On average, research analysts expect that Meridian Bioscience will post 0.64 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Meridian Bioscience by 2.2% in the 2nd quarter. BlackRock Inc. now owns 6,457,345 shares of the company’s stock valued at $76,714,000 after purchasing an additional 140,424 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Meridian Bioscience by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock valued at $33,011,000 after buying an additional 14,871 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Meridian Bioscience by 91.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,615 shares of the company’s stock valued at $25,757,000 after buying an additional 696,675 shares during the period. Systematic Financial Management LP boosted its position in Meridian Bioscience by 3.9% in the 2nd quarter. Systematic Financial Management LP now owns 1,193,188 shares of the company’s stock valued at $14,175,000 after buying an additional 44,769 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in Meridian Bioscience by 61.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 619,878 shares of the company’s stock valued at $7,364,000 after buying an additional 235,171 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

About Meridian Bioscience

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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