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. “
Several other research firms have also recently issued reports on VIVO. BidaskClub cut shares of Meridian Bioscience from a hold rating to a sell rating in a research report on Friday, April 19th. Canaccord Genuity cut shares of Meridian Bioscience from a hold rating to a sell rating and cut their price objective for the stock from $17.00 to $11.00 in a research report on Wednesday, April 3rd. ValuEngine upgraded shares of Meridian Bioscience from a hold rating to a buy rating in a research report on Friday, March 29th. Piper Jaffray Companies upgraded shares of Meridian Bioscience from an underweight rating to a neutral rating and cut their price objective for the stock from $15.00 to $11.00 in a research report on Wednesday, May 1st. Finally, Robert W. Baird dropped their price target on shares of Meridian Bioscience from $17.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock currently has an average rating of Hold and an average price target of $13.25.
Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. The firm had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $50.03 million. During the same period last year, the business earned $0.21 earnings per share. Meridian Bioscience’s revenue was down 11.0% compared to the same quarter last year. As a group, equities research analysts predict that Meridian Bioscience will post 0.59 earnings per share for the current year.
In related news, CEO John P. Kenny purchased 20,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average cost of $11.49 per share, for a total transaction of $229,800.00. Following the completion of the transaction, the chief executive officer now directly owns 83,000 shares in the company, valued at $953,670. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Phillips purchased 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $11.40 per share, with a total value of $57,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 32,000 shares of company stock valued at $366,170. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Investments LP increased its position in shares of Meridian Bioscience by 187.6% during the fourth quarter. Two Sigma Investments LP now owns 109,339 shares of the company’s stock valued at $1,898,000 after acquiring an additional 71,318 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of Meridian Bioscience in the fourth quarter valued at approximately $280,000. WINTON GROUP Ltd acquired a new position in shares of Meridian Bioscience in the fourth quarter valued at approximately $3,724,000. Dimensional Fund Advisors LP grew its holdings in shares of Meridian Bioscience by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock valued at $33,011,000 after purchasing an additional 14,871 shares in the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Meridian Bioscience by 1.6% in the fourth quarter. New York State Teachers Retirement System now owns 132,502 shares of the company’s stock valued at $2,300,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 91.25% of the company’s stock.
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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