Brokerages predict that Meridian Bioscience Inc. (NASDAQ:VIVO) will post $47.70 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Meridian Bioscience’s earnings, with the highest sales estimate coming in at $47.72 million and the lowest estimate coming in at $47.68 million. Meridian Bioscience reported sales of $47.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.5%. The business is expected to announce its next quarterly earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Meridian Bioscience will report full-year sales of $47.70 million for the current year, with estimates ranging from $197.00 million to $198.79 million. For the next fiscal year, analysts expect that the business will post sales of $204.51 million per share, with estimates ranging from $203.53 million to $205.01 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. The company had revenue of $50.14 million for the quarter, compared to the consensus estimate of $49.13 million. Meridian Bioscience had a net margin of 10.77% and a return on equity of 16.93%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS.
A number of research firms have issued reports on VIVO. Zacks Investment Research downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub cut Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $14.00 price target on shares of Meridian Bioscience in a report on Friday. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Meridian Bioscience has an average rating of “Hold” and an average price target of $14.00.
In other news, Chairman John A. Kraeutler bought 7,000 shares of the stock in a transaction on Thursday, August 24th. The stock was acquired at an average cost of $13.67 per share, for a total transaction of $95,690.00. Following the acquisition, the chairman now owns 345,230 shares of the company’s stock, valued at $4,719,294.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Meridian Bioscience in the first quarter valued at about $105,000. BNP Paribas Arbitrage SA raised its stake in Meridian Bioscience by 12.5% in the first quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the company’s stock valued at $119,000 after buying an additional 960 shares during the last quarter. Advisor Group Inc. raised its stake in Meridian Bioscience by 24.9% in the second quarter. Advisor Group Inc. now owns 7,720 shares of the company’s stock valued at $122,000 after buying an additional 1,537 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Meridian Bioscience by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 8,273 shares of the company’s stock valued at $130,000 after buying an additional 3,613 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Meridian Bioscience by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock valued at $136,000 after buying an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 87.30% of the company’s stock.
Meridian Bioscience (VIVO) traded down 1.67% during midday trading on Wednesday, reaching $14.70. 161,599 shares of the company’s stock traded hands. The stock has a market cap of $620.38 million, a PE ratio of 29.40 and a beta of 0.84. The stock’s 50 day moving average price is $14.22 and its 200-day moving average price is $14.35. Meridian Bioscience has a one year low of $10.75 and a one year high of $18.90.
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About Meridian Bioscience
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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