Meridian Bioscience (NASDAQ:VIVO) Stock Rating Upgraded by ValuEngine

Meridian Bioscience (NASDAQ:VIVO) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

A number of other research firms have also weighed in on VIVO. BidaskClub upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Piper Jaffray Companies upgraded shares of Meridian Bioscience from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $11.00 in a research report on Wednesday, May 1st. Robert W. Baird lowered their price target on shares of Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 3rd. Finally, Canaccord Genuity restated a “sell” rating and set a $9.00 price target on shares of Meridian Bioscience in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Meridian Bioscience presently has an average rating of “Hold” and a consensus target price of $13.25.

Shares of VIVO stock traded down $0.20 on Thursday, reaching $11.81. 153,841 shares of the company were exchanged, compared to its average volume of 271,202. The company has a market cap of $507.75 million, a P/E ratio of 15.93 and a beta of 0.32. The firm has a 50-day moving average of $11.63. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.31 and a current ratio of 6.01. Meridian Bioscience has a 1 year low of $10.77 and a 1 year high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Tuesday, July 30th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $48.40 million during the quarter, compared to analysts’ expectations of $49.81 million. Meridian Bioscience had a net margin of 12.65% and a return on equity of 18.06%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. Analysts anticipate that Meridian Bioscience will post 0.64 EPS for the current year.

In other Meridian Bioscience news, CEO John P. Kenny purchased 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 83,000 shares of the company’s stock, valued at approximately $953,670. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James M. Anderson purchased 5,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were acquired at an average price of $11.37 per share, for a total transaction of $56,850.00. The disclosure for this purchase can be found here. Insiders have purchased 32,000 shares of company stock worth $366,170 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of VIVO. Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 14,871 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Meridian Bioscience by 91.0% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,462,615 shares of the company’s stock valued at $25,757,000 after purchasing an additional 696,675 shares during the last quarter. Norges Bank acquired a new position in Meridian Bioscience in the 4th quarter valued at about $22,052,000. Systematic Financial Management LP boosted its holdings in Meridian Bioscience by 3.9% in the 2nd quarter. Systematic Financial Management LP now owns 1,193,188 shares of the company’s stock valued at $14,175,000 after purchasing an additional 44,769 shares during the last quarter. Finally, Ronna Sue Cohen boosted its holdings in Meridian Bioscience by 1,423.0% in the 1st quarter. Ronna Sue Cohen now owns 565,381 shares of the company’s stock valued at $565,000 after purchasing an additional 528,257 shares during the last quarter. Hedge funds and other institutional investors own 90.20% 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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