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. “
A number of other brokerages also recently issued reports on VIVO. BidaskClub raised Meridian Bioscience from a sell rating to a hold rating in a research report on Friday, March 29th. ValuEngine raised Meridian Bioscience from a hold rating to a buy rating in a research report on Friday, March 29th. Piper Jaffray Companies cut their price objective on Meridian Bioscience from $17.00 to $15.00 and set an underweight rating for the company in a research report on Tuesday, April 2nd. Canaccord Genuity downgraded 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. Finally, Robert W. Baird cut their price objective on Meridian Bioscience from $17.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $11.45.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $50.25 million during the quarter, compared to the consensus estimate of $50.03 million. Meridian Bioscience had a return on equity of 18.58% and a net margin of 13.29%. The company’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the company earned $0.21 EPS. On average, sell-side analysts expect that Meridian Bioscience will post 0.56 EPS for the current year.
In other news, Director James M. Anderson bought 5,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $11.37 per share, with a total value of $56,850.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John P. Kenny bought 20,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $11.49 per share, with a total value of $229,800.00. Following the completion of the transaction, the chief executive officer now owns 83,000 shares in the company, valued at $953,670. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,000 shares of company stock valued at $366,170. 2.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP grew its position in Meridian Bioscience by 187.6% in the 4th 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 in the last quarter. Oregon Public Employees Retirement Fund purchased a new position in shares of Meridian Bioscience in the 4th quarter valued at about $280,000. SG Americas Securities LLC purchased a new position in shares of Meridian Bioscience in the 1st quarter valued at about $246,000. Dimensional Fund Advisors LP boosted its stake in shares of Meridian Bioscience by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock valued at $33,011,000 after buying an additional 14,871 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Meridian Bioscience by 9.1% in the 4th quarter. Victory Capital Management Inc. now owns 98,634 shares of the company’s stock valued at $1,712,000 after buying an additional 8,235 shares during the period. 90.35% of the stock is owned by institutional investors.
Meridian Bioscience Company Profile
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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