Meridian Bioscience (NASDAQ:VIVO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
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. “
Other equities analysts have also recently issued reports about the stock. Canaccord Genuity raised their price target on shares of Meridian Bioscience from $14.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, January 26th. BidaskClub cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, February 3rd.
VIVO stock traded up $0.20 during mid-day trading on Friday, hitting $14.60. 183,390 shares of the company were exchanged, compared to its average volume of 299,217. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.96 and a current ratio of 5.82. The company has a market capitalization of $607.12, a P/E ratio of 21.79 and a beta of 0.96. Meridian Bioscience has a 1-year low of $13.23 and a 1-year high of $16.45.
Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, January 25th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $52.30 million for the quarter, compared to the consensus estimate of $49.00 million. Meridian Bioscience had a net margin of 10.46% and a return on equity of 17.00%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $0.15 EPS. analysts forecast that Meridian Bioscience will post 0.72 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of VIVO. Systematic Financial Management LP grew its stake in shares of Meridian Bioscience by 810.2% during the 4th quarter. Systematic Financial Management LP now owns 888,075 shares of the company’s stock worth $12,433,000 after acquiring an additional 790,508 shares in the last quarter. Millennium Management LLC grew its stake in shares of Meridian Bioscience by 55.0% during the 4th quarter. Millennium Management LLC now owns 1,133,765 shares of the company’s stock worth $15,873,000 after acquiring an additional 402,430 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Meridian Bioscience during the 4th quarter worth approximately $3,764,000. Deutsche Bank AG grew its stake in shares of Meridian Bioscience by 113.9% during the 4th quarter. Deutsche Bank AG now owns 421,354 shares of the company’s stock worth $5,898,000 after acquiring an additional 224,359 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Meridian Bioscience by 8.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,230,676 shares of the company’s stock worth $31,229,000 after acquiring an additional 178,900 shares in the last quarter. 90.95% of the stock is owned by institutional investors.
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Meridian Bioscience Company Profile
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.
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