Meridian Bioscience Inc. (NASDAQ:VIVO) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $21.00.
Several brokerages recently weighed in on VIVO. Canaccord Genuity restated a “hold” rating and set a $20.00 target price on shares of Meridian Bioscience in a research note on Monday, August 1st. Hilliard Lyons downgraded Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th.
Meridian Bioscience (NASDAQ:VIVO) opened at 19.77 on Tuesday. Meridian Bioscience has a 1-year low of $16.60 and a 1-year high of $21.49. The stock has a 50 day moving average price of $19.31 and a 200 day moving average price of $19.71. The company has a market cap of $832.04 million, a P/E ratio of 23.54 and a beta of 1.06.
Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. Meridian Bioscience had a net margin of 17.95% and a return on equity of 21.51%. The company earned $50.70 million during the quarter, compared to analysts’ expectations of $52.85 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Meridian Bioscience will post $0.86 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of VIVO. Norges Bank purchased a new stake in Meridian Bioscience during the fourth quarter valued at $13,635,000. Capstone Asset Management Co. increased its stake in Meridian Bioscience by 1,560.3% in the first quarter. Capstone Asset Management Co. now owns 229,966 shares of the company’s stock valued at $4,740,000 after buying an additional 216,115 shares during the last quarter. Acadian Asset Management LLC increased its stake in Meridian Bioscience by 180.9% in the first quarter. Acadian Asset Management LLC now owns 651,624 shares of the company’s stock valued at $13,431,000 after buying an additional 419,622 shares during the last quarter. Aperio Group LLC increased its stake in Meridian Bioscience by 23.0% in the first quarter. Aperio Group LLC now owns 15,942 shares of the company’s stock valued at $329,000 after buying an additional 2,986 shares during the last quarter. Finally, Virginia Retirement System purchased a new stake in Meridian Bioscience during the first quarter valued at $1,251,000. Institutional investors and hedge funds own 88.03% of the company’s stock.
About Meridian Bioscience
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.
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