Meridian Bioscience (VIVO) Hits New 52-Week Low at $11.03

Meridian Bioscience, Inc. (NASDAQ:VIVO)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $11.03 and last traded at $11.16, with a volume of 16618 shares changing hands. The stock had previously closed at $11.32.

Several equities analysts have recently commented on VIVO shares. ValuEngine upgraded shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Friday, March 29th. BidaskClub cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Zacks Investment Research cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating and set a $19.00 price target on the stock. in a report on Saturday, January 19th. Finally, Robert W. Baird decreased their price objective on shares of Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Meridian Bioscience presently has a consensus rating of “Hold” and a consensus price target of $13.25.

The firm has a market capitalization of $462.28 million, a PE ratio of 14.70 and a beta of 0.31. 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 (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 the Zacks’ consensus estimate of $0.15 by $0.04. The firm had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $50.03 million. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. Meridian Bioscience’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, equities analysts expect that Meridian Bioscience, Inc. will post 0.59 EPS for the current fiscal year.

In related news, CEO John P. Kenny acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average price 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 of the company’s stock, valued at $953,670. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Phillips acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $11.40 per share, with a total value of $57,000.00. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in VIVO. Bank of New York Mellon Corp raised its position in shares of Meridian Bioscience by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 821,462 shares of the company’s stock valued at $12,239,000 after buying an additional 9,615 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Meridian Bioscience by 50.9% during the third quarter. MetLife Investment Advisors LLC now owns 34,032 shares of the company’s stock valued at $507,000 after buying an additional 11,480 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Meridian Bioscience by 50.5% during the third quarter. AQR Capital Management LLC now owns 98,930 shares of the company’s stock valued at $1,474,000 after buying an additional 33,189 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Meridian Bioscience by 6.0% during the third quarter. Teachers Advisors LLC now owns 80,747 shares of the company’s stock valued at $1,203,000 after buying an additional 4,545 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Meridian Bioscience by 7.4% during the third quarter. Legal & General Group Plc now owns 100,727 shares of the company’s stock valued at $1,502,000 after buying an additional 6,935 shares during the last quarter. 92.91% of the stock is owned by institutional investors and hedge funds.

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Meridian Bioscience Company Profile (NASDAQ:VIVO)

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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