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. “
A number of other brokerages have also issued reports on VIVO. Hilliard Lyons lowered shares of Meridian Bioscience from a buy rating to a hold rating in a research note on Friday, July 29th. Canaccord Genuity reiterated a hold rating and issued a $20.00 price objective on shares of Meridian Bioscience in a research note on Monday, August 1st. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $21.25.
Meridian Bioscience (NASDAQ:VIVO) opened at 18.80 on Tuesday. The company’s 50 day moving average is $19.30 and its 200-day moving average is $19.59. The stock has a market cap of $791.22 million, a PE ratio of 22.38 and a beta of 0.97. Meridian Bioscience has a 1-year low of $17.63 and a 1-year high of $21.49.
Meridian Bioscience (NASDAQ:VIVO) last issued 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 had revenue of $50.70 million for the quarter, compared to analyst estimates of $52.85 million. During the same quarter in the previous year, the company posted $0.22 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts forecast that Meridian Bioscience will post $0.86 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Meridian Bioscience by 40.5% in the second quarter. BlackRock Inc. now owns 5,415 shares of the company’s stock valued at $105,000 after buying an additional 1,560 shares during the last quarter. Bartlett & Co. LLC increased its position in Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock valued at $112,000 after buying an additional 900 shares during the last quarter. Teacher Retirement System of Texas increased its position in Meridian Bioscience by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,880 shares of the company’s stock valued at $115,000 after buying an additional 708 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Meridian Bioscience by 1,405.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,006 shares of the company’s stock valued at $117,000 after buying an additional 5,607 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in Meridian Bioscience during the second quarter valued at about $127,000. Institutional investors own 88.04% of the company’s stock.
Meridian Bioscience Company Profile
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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