Meridian Bioscience, Inc. to Post Q3 2019 Earnings of $0.07 Per Share, Piper Jaffray Companies Forecasts (NASDAQ:VIVO)

Meridian Bioscience, Inc. (NASDAQ:VIVO) – Research analysts at Piper Jaffray Companies lowered their Q3 2019 earnings estimates for Meridian Bioscience in a report released on Tuesday, April 30th, Zacks Investment Research reports. Piper Jaffray Companies analyst W. Quirk now anticipates that the company will post earnings of $0.07 per share for the quarter, down from their previous forecast of $0.15. Piper Jaffray Companies has a “Neutral” rating and a $11.00 price target on the stock. Piper Jaffray Companies also issued estimates for Meridian Bioscience’s FY2019 earnings at $0.52 EPS, Q1 2020 earnings at $0.11 EPS, Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.13 EPS and Q4 2020 earnings at $0.12 EPS.

Several other research analysts also recently commented on the stock. BidaskClub raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Canaccord Genuity cut their price target on shares of Meridian Bioscience from $11.00 to $9.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. Zacks Investment Research raised shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. ValuEngine downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Finally, Robert W. Baird cut their price target 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 analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.25.

NASDAQ:VIVO traded down $0.21 during trading hours on Thursday, hitting $10.88. The stock had a trading volume of 393,545 shares, compared to its average volume of 393,752. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.01 and a quick ratio of 4.31. Meridian Bioscience has a one year low of $10.81 and a one year high of $19.84. The company has a market cap of $462.28 million, a price-to-earnings ratio of 14.70 and a beta of 0.31.

Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. The company had revenue of $50.25 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.21 EPS.

Several institutional investors have recently bought and sold shares of VIVO. Bank of New York Mellon Corp grew its stake in Meridian Bioscience by 1.2% in 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 purchasing an additional 9,615 shares in the last quarter. Martingale Asset Management L P grew its stake in Meridian Bioscience by 1.4% in the third quarter. Martingale Asset Management L P now owns 272,902 shares of the company’s stock valued at $4,067,000 after purchasing an additional 3,702 shares in the last quarter. BlackRock Inc. grew its stake in Meridian Bioscience by 5.6% in the third quarter. BlackRock Inc. now owns 6,228,616 shares of the company’s stock valued at $92,806,000 after purchasing an additional 327,584 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Meridian Bioscience by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,886,692 shares of the company’s stock valued at $28,112,000 after purchasing an additional 58,358 shares in the last quarter. Finally, Man Group plc grew its stake in Meridian Bioscience by 1.6% in the third quarter. Man Group plc now owns 286,471 shares of the company’s stock valued at $4,268,000 after purchasing an additional 4,516 shares in the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

In related news, CEO John P. Kenny acquired 20,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $11.49 per share, for a total transaction of $229,800.00. Following the transaction, the chief executive officer now owns 83,000 shares in the company, valued at approximately $953,670. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Phillips acquired 5,000 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $11.40 per share, for a total transaction of $57,000.00. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

About Meridian Bioscience

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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Earnings History and Estimates for Meridian Bioscience (NASDAQ:VIVO)

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