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 commented on VIVO. Canaccord Genuity reaffirmed a hold rating on shares of Meridian Bioscience in a research report on Wednesday, June 29th. Hilliard Lyons lowered shares of Meridian Bioscience from a buy rating to a hold rating in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $21.25.
Meridian Bioscience (NASDAQ:VIVO) opened at 19.09 on Wednesday. The company’s 50-day moving average price is $19.31 and its 200-day moving average price is $19.64. Meridian Bioscience has a one year low of $17.21 and a one year high of $21.49. The stock has a market cap of $803.42 million, a P/E ratio of 22.73 and a beta of 0.97.
Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. Meridian Bioscience had a return on equity of 21.51% and a net margin of 17.95%. The firm earned $50.70 million during the quarter, compared to analysts’ expectations of $52.85 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts forecast that Meridian Bioscience will post $0.86 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of VIVO. BlackRock Inc. increased its position in shares of Meridian Bioscience by 40.5% in the second quarter. BlackRock Inc. now owns 5,415 shares of the company’s stock worth $105,000 after buying an additional 1,560 shares during the period. Bartlett & Co. LLC increased its position in shares of Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock worth $112,000 after buying an additional 900 shares during the period. Teacher Retirement System of Texas increased its position in shares of Meridian Bioscience by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,880 shares of the company’s stock worth $115,000 after buying an additional 708 shares during the period. Tower Research Capital LLC TRC increased its position in shares of 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 worth $117,000 after buying an additional 5,607 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of Meridian Bioscience during the second quarter worth approximately $127,000. 88.03% of the stock is owned by institutional investors.
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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