BidaskClub Downgrades Meridian Bioscience (VIVO) to Sell

Meridian Bioscience (NASDAQ:VIVO) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday, BidAskClub reports.

A number of other research firms have also recently weighed in on VIVO. Zacks Investment Research cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Canaccord Genuity cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating and lowered their target price for the company from $17.00 to $11.00 in a research note on Wednesday, April 3rd. ValuEngine raised shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Friday, March 29th. Piper Jaffray Companies raised shares of Meridian Bioscience from an “underweight” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $11.00 in a research note on Wednesday, May 1st. Finally, Robert W. Baird lowered their target price on shares of Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $13.25.

Shares of VIVO opened at $11.26 on Tuesday. The stock has a market cap of $458.89 million, a PE ratio of 15.22 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.01 and a quick ratio of 4.31. Meridian Bioscience has a 52 week low of $10.77 and a 52 week high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Tuesday, April 30th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. The business had revenue of $50.25 million for the quarter, compared to analysts’ expectations of $50.03 million. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities analysts predict that Meridian Bioscience will post 0.59 EPS for the current year.

In other news, Director James M. Anderson acquired 5,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of $11.37 per share, with a total value of $56,850.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John P. Kenny acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $11.49 per share, for a total transaction of $229,800.00. Following the completion of the purchase, the chief executive officer now directly owns 83,000 shares of the company’s stock, valued at approximately $953,670. The disclosure for this purchase can be found here. In the last three months, insiders purchased 30,000 shares of company stock worth $343,650. 2.00% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Zebra Capital Management LLC bought a new stake in Meridian Bioscience during the first quarter worth about $210,000. Ladenburg Thalmann Financial Services Inc. grew its stake in Meridian Bioscience by 108.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,278 shares of the company’s stock worth $40,000 after buying an additional 1,187 shares during the last quarter. Man Group plc grew its stake in Meridian Bioscience by 7.0% during the first quarter. Man Group plc now owns 225,902 shares of the company’s stock worth $3,978,000 after buying an additional 14,764 shares during the last quarter. SEI Investments Co grew its stake in Meridian Bioscience by 23.3% during the first quarter. SEI Investments Co now owns 13,850 shares of the company’s stock worth $244,000 after buying an additional 2,619 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Meridian Bioscience by 72.5% during the first quarter. Goldman Sachs Group Inc. now owns 423,048 shares of the company’s stock worth $7,450,000 after buying an additional 177,792 shares during the last quarter. 92.91% 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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