Meridian Bioscience (NASDAQ:VIVO) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a buy rating in a research report released on Saturday, Zacks.com reports. The brokerage currently has $11.00 price objective 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. “

A number of other brokerages also recently commented on VIVO. BidaskClub upgraded Meridian Bioscience from a sell rating to a hold rating in a research report on Wednesday, October 16th. Canaccord Genuity reiterated a sell rating and issued a $9.00 price objective on shares of Meridian Bioscience in a research report on Wednesday, July 31st. Finally, ValuEngine upgraded Meridian Bioscience from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Meridian Bioscience presently has an average rating of Hold and an average target price of $11.25.

Shares of NASDAQ VIVO traded up $0.04 during mid-day trading on Friday, reaching $9.91. 167,200 shares of the company traded hands, compared to its average volume of 319,681. The company’s fifty day moving average is $9.64 and its two-hundred day moving average is $10.97. The company has a debt-to-equity ratio of 0.40, a quick ratio of 4.75 and a current ratio of 6.93. Meridian Bioscience has a fifty-two week low of $8.82 and a fifty-two week high of $19.84. The stock has a market cap of $421.56 million, a PE ratio of 13.39 and a beta of 0.38.

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

Institutional investors have recently bought and sold shares of the stock. Coastal Capital Group Inc. bought a new position in shares of Meridian Bioscience during the 2nd quarter worth approximately $25,000. Financial Gravity Wealth Inc. bought a new position in shares of Meridian Bioscience during the 2nd quarter worth approximately $29,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of 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 buying an additional 2,591 shares during the period. Capital Fund Management S.A. bought a new position in shares of Meridian Bioscience during the 2nd quarter worth approximately $138,000. Finally, Pacer Advisors Inc. lifted its position in shares of 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 buying an additional 2,354 shares during the period. Institutional investors and hedge funds own 88.67% 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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