Meridian Bioscience, Inc. (NASDAQ:VIVO) Receives Consensus Recommendation of “Hold” from Brokerages

Meridian Bioscience, Inc. (NASDAQ:VIVO) has been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.33.

VIVO has been the topic of several research analyst reports. Canaccord Genuity reissued a “sell” rating and issued a $9.00 target price on shares of Meridian Bioscience in a research report on Wednesday, July 31st. BidaskClub raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Friday, July 5th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Gravity Wealth Inc. purchased a new position in Meridian Bioscience in the second quarter valued at approximately $29,000. Acadian Asset Management LLC raised its holdings in Meridian Bioscience by 255.9% in the second quarter. Acadian Asset Management LLC now owns 320,309 shares of the company’s stock valued at $3,804,000 after buying an additional 230,299 shares during the period. Verity Asset Management Inc. raised its holdings in Meridian Bioscience by 15.1% in the second quarter. Verity Asset Management Inc. now owns 27,338 shares of the company’s stock valued at $435,000 after buying an additional 3,580 shares during the period. Canada Pension Plan Investment Board purchased a new position in Meridian Bioscience in the second quarter valued at approximately $594,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in Meridian Bioscience by 61.1% in the second 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 88.58% of the company’s stock.

VIVO opened at $10.03 on Friday. The company’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $11.13. 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 1 year low of $8.82 and a 1 year high of $19.84. The stock has a market capitalization of $428.38 million, a PE ratio of 13.55 and a beta of 0.38.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. The business had revenue of $48.40 million for the quarter, compared to analysts’ expectations of $49.81 million. During the same period last year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Meridian Bioscience will post 0.64 earnings per share for the current fiscal year.

Meridian Bioscience Company Profile

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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