Meridian Bioscience (NASDAQ:VIVO) Shares Gap Down to $21.40

Meridian Bioscience, Inc. (NASDAQ:VIVO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $21.40, but opened at $20.70. Meridian Bioscience shares last traded at $20.01, with a volume of 1,177 shares changing hands.

A number of equities research analysts have commented on the company. Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Wednesday, November 17th. HC Wainwright lifted their target price on Meridian Bioscience from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, November 15th.

The company has a debt-to-equity ratio of 0.16, a current ratio of 5.31 and a quick ratio of 3.36. The company has a fifty day moving average price of $19.35. The stock has a market capitalization of $852.77 million, a PE ratio of 12.14 and a beta of 0.43.

Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Friday, November 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.03. Meridian Bioscience had a return on equity of 24.58% and a net margin of 23.29%. During the same period in the previous year, the business earned $0.19 EPS. Analysts expect that Meridian Bioscience, Inc. will post 1.63 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new stake in Meridian Bioscience during the second quarter worth approximately $44,000. First Bank & Trust boosted its position in shares of Meridian Bioscience by 206.9% during the second quarter. First Bank & Trust now owns 4,420 shares of the company’s stock valued at $98,000 after buying an additional 2,980 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Meridian Bioscience by 1,474.0% during the second quarter. Panagora Asset Management Inc. now owns 6,831 shares of the company’s stock valued at $152,000 after buying an additional 6,397 shares during the period. Captrust Financial Advisors boosted its position in shares of Meridian Bioscience by 260.3% during the first quarter. Captrust Financial Advisors now owns 6,666 shares of the company’s stock valued at $175,000 after buying an additional 4,816 shares during the period. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Meridian Bioscience during the second quarter valued at approximately $207,000. 98.15% of the stock is currently owned by institutional investors.

About Meridian Bioscience (NASDAQ:VIVO)

Meridian Bioscience, Inc engages in the development, production, sale, and distribution of diagnostic products. Its platforms include molecular, immunoassay, urea breath, and blood chemistry. It operates through the Diagnostics and Life Science segments. The Diagnostics segment consists of manufacturing operations for infectious disease and blood chemistry products; and sale and distribution of diagnostics products domestically and abroad.

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