Meridian Bioscience, Inc. (NASDAQ:VIVO)’s share price was up 6% during trading on Thursday . The company traded as high as $9.80 and last traded at $9.78, approximately 511,323 shares were traded during trading. An increase of 43% from the average daily volume of 356,426 shares. The stock had previously closed at $9.23.
A number of equities analysts have commented on VIVO shares. Zacks Investment Research lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a research note on Sunday, November 3rd. BidaskClub upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Canaccord Genuity restated a “sell” rating and set a $8.00 price objective on shares of Meridian Bioscience in a research note on Tuesday, November 19th. Finally, ValuEngine upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $11.00.
The company has a 50 day moving average price of $9.19 and a 200-day moving average price of $10.26. The company has a current ratio of 6.92, a quick ratio of 5.03 and a debt-to-equity ratio of 0.40. The company has a market cap of $394.51 million, a P/E ratio of 14.21 and a beta of 0.37.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.04. Meridian Bioscience had a return on equity of 15.72% and a net margin of 12.13%. The company had revenue of $50.80 million for the quarter, compared to analyst estimates of $50.57 million. During the same quarter last year, the company posted $0.20 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities analysts expect that Meridian Bioscience, Inc. will post 0.3 earnings per share for the current year.
In other Meridian Bioscience news, Director David Phillips purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average price of $8.06 per share, for a total transaction of $80,600.00. Following the purchase, the director now owns 5,491 shares in the company, valued at approximately $44,257.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John P. Kenny purchased 20,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $7.73 per share, for a total transaction of $154,600.00. Following the purchase, the chief executive officer now owns 198,324 shares in the company, valued at approximately $1,533,044.52. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Meridian Bioscience by 113.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,869 shares of the company’s stock valued at $58,000 after acquiring an additional 2,591 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Meridian Bioscience during the 2nd quarter valued at $138,000. Pacer Advisors Inc. boosted its holdings in shares of Meridian Bioscience by 19.0% during the 3rd quarter. Pacer Advisors Inc. now owns 14,734 shares of the company’s stock valued at $140,000 after acquiring an additional 2,354 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Meridian Bioscience during the 2nd quarter valued at $141,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Meridian Bioscience by 710.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 12,580 shares of the company’s stock valued at $150,000 after acquiring an additional 11,028 shares in the last quarter. Institutional investors own 89.15% of the company’s stock.
About Meridian Bioscience (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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