Meridian Bioscience (NASDAQ:VIVO) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Several other equities research analysts have also weighed in on the stock. Piper Jaffray Companies upgraded shares of Meridian Bioscience from an underweight rating to a neutral rating and cut their target price for the stock from $15.00 to $11.00 in a report on Wednesday, May 1st. ValuEngine lowered shares of Meridian Bioscience from a hold rating to a sell rating in a report on Tuesday, August 13th. Zacks Investment Research lowered shares of Meridian Bioscience from a hold rating to a sell rating in a report on Friday, July 5th. Finally, Canaccord Genuity reissued a sell rating and set a $9.00 price objective on shares of Meridian Bioscience in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of Sell and a consensus target price of $13.25.

VIVO opened at $10.11 on Thursday. The firm’s fifty day moving average is $11.44 and its two-hundred day moving average is $13.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.75 and a current ratio of 6.93. The firm has a market cap of $427.11 million, a PE ratio of 13.66 and a beta of 0.32. Meridian Bioscience has a twelve month low of $9.91 and a twelve month high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.06. The company had revenue of $48.40 million for the quarter, compared to analyst estimates of $49.81 million. Meridian Bioscience had a net margin of 12.65% and a return on equity of 17.82%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. Equities analysts forecast that Meridian Bioscience will post 0.64 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Meridian Bioscience by 164.5% during the 4th quarter. Bank of America Corp DE now owns 34,810 shares of the company’s stock worth $604,000 after buying an additional 21,649 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Meridian Bioscience by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,563 shares of the company’s stock worth $33,011,000 after buying an additional 14,871 shares in the last quarter. Norges Bank purchased a new position in shares of Meridian Bioscience during the 4th quarter worth approximately $22,052,000. Meeder Asset Management Inc. raised its stake in shares of Meridian Bioscience by 196.7% during the 1st quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after buying an additional 1,029 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Meridian Bioscience by 4.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 26,120 shares of the company’s stock worth $460,000 after buying an additional 1,100 shares in the last quarter. 89.69% of the stock is owned by institutional investors.

Meridian Bioscience Company Profile

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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