Meridian Bioscience (VIVO) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Meridian Bioscience (NASDAQ:VIVO) from a buy rating to a hold rating in a research report sent to investors on Thursday. They currently have $16.00 price target on the stock.

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. “

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Other equities research analysts have also issued reports about the company. Canaccord Genuity boosted their target price on Meridian Bioscience from $14.00 to $16.00 and gave the stock a hold rating in a research report on Friday, January 26th. BidaskClub raised Meridian Bioscience from a sell rating to a hold rating in a research report on Thursday, March 8th.

Shares of Meridian Bioscience stock opened at $14.20 on Thursday. The firm has a market cap of $600.77, a PE ratio of 21.19 and a beta of 1.03. The company has a current ratio of 5.82, a quick ratio of 3.96 and a debt-to-equity ratio of 0.28. Meridian Bioscience has a 12-month low of $12.95 and a 12-month high of $16.45.

Meridian Bioscience (NASDAQ:VIVO) last announced its earnings results on Thursday, January 25th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $52.30 million for the quarter, compared to analyst estimates of $49.00 million. Meridian Bioscience had a return on equity of 17.00% and a net margin of 10.46%. Meridian Bioscience’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. equities research analysts predict that Meridian Bioscience will post 0.72 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in Meridian Bioscience during the fourth quarter valued at $140,000. Verity Asset Management Inc. acquired a new position in Meridian Bioscience during the fourth quarter valued at $161,000. Hartford Investment Management Co. acquired a new position in Meridian Bioscience during the third quarter valued at $166,000. Nisa Investment Advisors LLC raised its position in Meridian Bioscience by 90.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 13,020 shares of the company’s stock valued at $182,000 after buying an additional 6,200 shares during the period. Finally, Advisor Group Inc. raised its position in Meridian Bioscience by 57.9% during the fourth quarter. Advisor Group Inc. now owns 13,446 shares of the company’s stock valued at $188,000 after buying an additional 4,932 shares during the period. 90.97% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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