Meridian Bioscience, Inc. (NASDAQ:VIVO) Sees Significant Decline in Short Interest

Meridian Bioscience, Inc. (NASDAQ:VIVO) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,290,000 shares, a drop of 6.1% from the September 30th total of 2,440,000 shares. Approximately 5.5% of the company’s shares are short sold. Based on an average trading volume of 288,100 shares, the short-interest ratio is currently 7.9 days.

Shares of VIVO stock opened at $8.76 on Tuesday. 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 stock has a market capitalization of $365.61 million, a P/E ratio of 12.88 and a beta of 0.37. The company has a 50 day moving average price of $9.39 and a 200 day moving average price of $10.54. Meridian Bioscience has a fifty-two week low of $7.63 and a fifty-two week high of $19.75.

Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. The firm had revenue of $50.80 million during the quarter, compared to analysts’ expectations of $50.57 million. Meridian Bioscience had a net margin of 12.13% and a return on equity of 15.89%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. On average, research analysts forecast that Meridian Bioscience will post 0.3 EPS for the current fiscal year.

A number of brokerages recently weighed in on VIVO. Canaccord Genuity restated a “sell” rating and issued a $9.00 price objective on shares of Meridian Bioscience in a report on Wednesday, July 31st. ValuEngine upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, BidaskClub upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.25.

In other Meridian Bioscience news, CEO John P. Kenny acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $7.73 per share, for a total transaction of $154,600.00. Following the completion of the acquisition, the chief executive officer now owns 198,324 shares of the company’s stock, valued at approximately $1,533,044.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Phillips acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $8.06 per share, with a total value of $80,600.00. Following the acquisition, the director now directly owns 5,491 shares of the company’s stock, valued at approximately $44,257.46. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VIVO. Coastal Capital Group Inc. acquired a new position in Meridian Bioscience during the 2nd quarter worth approximately $25,000. Financial Gravity Wealth Inc. acquired a new position in Meridian Bioscience during the 2nd quarter worth approximately $29,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Meridian Bioscience by 113.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,869 shares of the company’s stock worth $58,000 after acquiring an additional 2,591 shares in the last quarter. Capital Fund Management S.A. acquired a new position in Meridian Bioscience during the 2nd quarter worth approximately $138,000. Finally, Pacer Advisors Inc. grew its holdings in Meridian Bioscience by 19.0% during the 3rd quarter. Pacer Advisors Inc. now owns 14,734 shares of the company’s stock worth $140,000 after acquiring an additional 2,354 shares in the last quarter. Institutional investors own 90.06% 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 respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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