Meridian Bioscience (NASDAQ:VIVO) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a sell rating in a research note published on Tuesday morning, ValuEngine reports.

A number of other analysts have also issued reports on the company. BidaskClub upgraded Meridian Bioscience from a sell rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research lowered Meridian Bioscience from a hold rating to a sell rating in a report on Friday, July 5th. Canaccord Genuity restated a sell rating and issued a $9.00 target price on shares of Meridian Bioscience in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies upgraded Meridian Bioscience from an underweight rating to a neutral rating and reduced their target price for the company from $15.00 to $11.00 in a report on Wednesday, May 1st. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Meridian Bioscience has an average rating of Sell and a consensus price target of $13.25.

VIVO opened at $10.11 on Tuesday. The stock has a fifty day moving average of $11.44 and a 200-day moving average of $13.29. The firm has a market capitalization of $431.81 million, a P/E ratio of 13.66 and a beta of 0.32. Meridian Bioscience has a 12-month low of $9.91 and a 12-month high of $19.84. The company has a quick ratio of 4.75, a current ratio of 6.93 and a debt-to-equity ratio of 0.40.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. The company had revenue of $48.40 million during the quarter, compared to analyst estimates of $49.81 million. Meridian Bioscience had a return on equity of 17.82% and a net margin of 12.65%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. On average, analysts expect that Meridian Bioscience will post 0.64 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VIVO. Comerica Bank increased its stake in shares of Meridian Bioscience by 2.3% in the first quarter. Comerica Bank now owns 42,420 shares of the company’s stock worth $562,000 after acquiring an additional 937 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Meridian Bioscience by 196.7% in the first quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after acquiring an additional 1,029 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Meridian Bioscience by 4.4% in the first quarter. Nisa Investment Advisors LLC now owns 26,120 shares of the company’s stock worth $460,000 after acquiring an additional 1,100 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Meridian Bioscience by 4.0% in the first quarter. Texas Permanent School Fund now owns 28,849 shares of the company’s stock worth $508,000 after acquiring an additional 1,101 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Meridian Bioscience by 4.2% in the second quarter. UBS Asset Management Americas Inc. now owns 28,530 shares of the company’s stock worth $339,000 after acquiring an additional 1,163 shares during the last quarter. Institutional investors own 89.69% of the company’s stock.

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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