Meridian Bioscience, Inc. (NASDAQ:VIVO) – Equities researchers at Piper Jaffray Companies lifted their Q2 2019 EPS estimates for Meridian Bioscience in a report released on Thursday, November 8th. Piper Jaffray Companies analyst W. Quirk now anticipates that the company will post earnings of $0.22 per share for the quarter, up from their prior estimate of $0.21. Piper Jaffray Companies also issued estimates for Meridian Bioscience’s Q4 2019 earnings at $0.18 EPS, Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.19 EPS, Q4 2020 earnings at $0.19 EPS, FY2020 earnings at $0.77 EPS and FY2021 earnings at $0.80 EPS.
Several other brokerages also recently weighed in on VIVO. BidaskClub downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. ValuEngine raised shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Monday, October 29th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $16.00.
Shares of NASDAQ:VIVO opened at $19.72 on Friday. The company has a current ratio of 5.73, a quick ratio of 3.89 and a debt-to-equity ratio of 0.27. Meridian Bioscience has a 1-year low of $13.53 and a 1-year high of $19.84. The company has a market cap of $695.28 million, a price-to-earnings ratio of 29.43 and a beta of 0.54.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. Meridian Bioscience had a net margin of 11.49% and a return on equity of 16.97%. The business had revenue of $213.60 million for the quarter, compared to the consensus estimate of $51.11 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, November 16th. Meridian Bioscience’s dividend payout ratio is currently 74.63%.
In other news, Director John Mcilwraith purchased 2,000 shares of the stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $15.63 per share, with a total value of $31,260.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at $93,780. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Meridian Bioscience by 9.1% during the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock valued at $41,837,000 after purchasing an additional 220,500 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Meridian Bioscience by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,334 shares of the company’s stock valued at $29,071,000 after buying an additional 9,714 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Meridian Bioscience by 11.3% during the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock valued at $17,994,000 after buying an additional 114,687 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Meridian Bioscience by 60.0% during the second quarter. SG Americas Securities LLC now owns 11,742 shares of the company’s stock valued at $187,000 after buying an additional 4,404 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Meridian Bioscience by 9.6% during the second quarter. BlackRock Inc. now owns 5,901,032 shares of the company’s stock valued at $93,827,000 after buying an additional 518,731 shares during the last quarter. 88.56% of the stock is currently owned by institutional investors and hedge funds.
About Meridian Bioscience
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.
Further Reading: Earnings Per Share
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