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 analysts have also weighed in on the company. Piper Jaffray Companies dropped their price objective on Meridian Bioscience from $17.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, April 2nd. BidaskClub lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Robert W. Baird dropped their price objective on Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Canaccord Genuity dropped their price objective on Meridian Bioscience from $11.00 to $9.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. Finally, ValuEngine raised Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $11.45.
Shares of NASDAQ VIVO opened at $11.69 on Friday. Meridian Bioscience has a one year low of $10.77 and a one year high of $19.84. The company has a current ratio of 6.01, a quick ratio of 4.31 and a debt-to-equity ratio of 0.23. The company has a market cap of $496.70 million, a price-to-earnings ratio of 15.80 and a beta of 0.30.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. The business had revenue of $50.25 million for the quarter, compared to analysts’ expectations of $50.03 million. During the same period last year, the business earned $0.21 earnings per share. The business’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Meridian Bioscience will post 0.56 EPS for the current fiscal year.
In other Meridian Bioscience news, CEO John P. Kenny purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average price of $11.49 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Anderson purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average cost of $11.37 per share, with a total value of $56,850.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 32,000 shares of company stock valued at $366,170. Insiders own 2.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP lifted its stake in Meridian Bioscience by 187.6% in the fourth quarter. Two Sigma Investments LP now owns 109,339 shares of the company’s stock worth $1,898,000 after acquiring an additional 71,318 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in Meridian Bioscience in the fourth quarter worth $280,000. WINTON GROUP Ltd purchased a new stake in Meridian Bioscience in the fourth quarter worth $3,724,000. Dimensional Fund Advisors LP lifted its stake in Meridian Bioscience by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock worth $33,011,000 after acquiring an additional 14,871 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Meridian Bioscience by 9.1% in the fourth quarter. Victory Capital Management Inc. now owns 98,634 shares of the company’s stock worth $1,712,000 after acquiring an additional 8,235 shares during the period. 90.35% of the stock is owned by 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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