Meridian Bioscience (NASDAQ:VIVO) Cut to Sell at ValuEngine

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ValuEngine downgraded shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

A number of other analysts have also weighed in on the stock. Piper Jaffray Companies raised shares of Meridian Bioscience from an underweight rating to a neutral rating and decreased their target price for the stock from $15.00 to $11.00 in a report on Wednesday, May 1st. Zacks Investment Research lowered shares of Meridian Bioscience from a hold rating to a sell rating in a report on Friday, July 5th. BidaskClub raised shares of Meridian Bioscience from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Canaccord Genuity reissued a sell rating and issued a $9.00 price target on shares of Meridian Bioscience in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Meridian Bioscience has an average rating of Sell and an average target price of $13.25.

Meridian Bioscience stock opened at $10.00 on Tuesday. The firm’s 50 day simple moving average is $11.47 and its 200 day simple moving average is $13.31. The company has a current ratio of 6.93, a quick ratio of 4.75 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $459.58 million, a PE ratio of 13.51 and a beta of 0.32. Meridian Bioscience has a 1-year low of $9.96 and a 1-year high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.06. The business had revenue of $48.40 million for the quarter, compared to analyst estimates of $49.81 million. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. Meridian Bioscience’s revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. Research analysts forecast that Meridian Bioscience will post 0.64 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Coastal Capital Group Inc. bought a new position in shares of Meridian Bioscience in the 2nd quarter worth $25,000. Meeder Asset Management Inc. increased its holdings in shares of Meridian Bioscience by 196.7% in the 1st quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after buying an additional 1,029 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Meridian Bioscience in the 2nd quarter worth $29,000. Quadrant Capital Group LLC increased its holdings in shares of Meridian Bioscience by 441.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $31,000 after buying an additional 1,528 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Meridian Bioscience in the 1st quarter worth $56,000. 89.69% of the stock is currently owned by hedge funds and other institutional investors.

About Meridian Bioscience

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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