Meridian Bioscience (NASDAQ:VIVO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday. The brokerage presently has a $23.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 16.63% from the company’s current price.
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. “
Several other research firms have also weighed in on VIVO. ValuEngine upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Monday, October 29th. BidaskClub upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.50.
NASDAQ VIVO traded up $0.09 during trading on Friday, hitting $19.72. 434,428 shares of the company traded hands, compared to its average volume of 290,581. Meridian Bioscience has a 12 month low of $13.53 and a 12 month high of $19.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.73 and a quick ratio of 3.89. The firm has a market cap of $719.87 million, a P/E ratio of 26.65 and a beta of 0.54.
Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. Meridian Bioscience had a return on equity of 16.97% and a net margin of 11.49%. The company had revenue of $213.60 million for the quarter, compared to analyst estimates of $51.11 million. During the same period last year, the company earned $0.15 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Meridian Bioscience will post 0.77 EPS for the current year.
In related news, Director John Mcilwraith bought 2,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were bought at an average cost of $15.63 per share, for a total transaction of $31,260.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at $93,780. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of VIVO. LPL Financial LLC increased its stake in shares of Meridian Bioscience by 24.2% in the first quarter. LPL Financial LLC now owns 21,502 shares of the company’s stock worth $305,000 after purchasing an additional 4,196 shares during the period. Guggenheim Capital LLC increased its stake in shares of Meridian Bioscience by 57.0% in the first quarter. Guggenheim Capital LLC now owns 40,648 shares of the company’s stock worth $578,000 after purchasing an additional 14,757 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Meridian Bioscience in the first quarter worth about $187,000. Principal Financial Group Inc. increased its stake in shares of Meridian Bioscience by 3.0% in the first quarter. Principal Financial Group Inc. now owns 340,220 shares of the company’s stock worth $4,831,000 after purchasing an additional 9,861 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Meridian Bioscience by 835.1% in the second quarter. Bank of Montreal Can now owns 53,468 shares of the company’s stock worth $850,000 after purchasing an additional 47,750 shares during the period. Institutional investors and hedge funds own 88.56% of the company’s stock.
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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