Meridian Bioscience (VIVO) Upgraded to “Buy” at Zacks Investment Research

Meridian Bioscience (NASDAQ:VIVO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $17.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.04% from the stock’s previous close.

According to Zacks, “Meridian Bioscience, Inc. is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies that help deliver answers. Its products provide accuracy, simplicity and speed for the early diagnosis and treatment of common medical conditions, such as C. difficile, H. pylori, foodborne diseases and respiratory infections. In addition, the company develops and manufactures a variety of biological and non-biological materials used in proficiency testing programs. Meridian diagnostic products are used outside of the human body and require little or no special equipment. Meridian Bioscience designs their products to enhance the well-being of the patient-while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal infections, serology, parasitology and fungal disease diagnosis. “

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A number of other research firms have also recently issued reports on VIVO. Canaccord Genuity upped their price objective on Meridian Bioscience from $14.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, January 26th. BidaskClub cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd.

VIVO stock opened at $14.65 on Wednesday. Meridian Bioscience has a 52-week low of $12.70 and a 52-week high of $16.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.96 and a current ratio of 5.82. The company has a market capitalization of $628.27, a PE ratio of 28.73 and a beta of 1.03.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, January 25th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Meridian Bioscience had a return on equity of 17.00% and a net margin of 10.46%. The business had revenue of $52.30 million during the quarter, compared to analysts’ expectations of $49.00 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. equities research analysts predict that Meridian Bioscience will post 0.72 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Meridian Bioscience in the 4th quarter worth about $140,000. Verity Asset Management Inc. purchased a new position in shares of Meridian Bioscience in the 4th quarter worth about $161,000. Hartford Investment Management Co. purchased a new position in shares of Meridian Bioscience in the 3rd quarter worth about $166,000. Nisa Investment Advisors LLC boosted its holdings in shares of Meridian Bioscience by 90.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 13,020 shares of the company’s stock worth $182,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of Meridian Bioscience by 57.9% in the 4th quarter. Advisor Group Inc. now owns 13,446 shares of the company’s stock worth $188,000 after purchasing an additional 4,932 shares in the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.

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Meridian Bioscience Company Profile

Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.

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