Meridian Bioscience (NASDAQ:VIVO) Upgraded by BidaskClub to “Hold”

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Meridian Bioscience (NASDAQ:VIVO) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Wednesday, October 16th, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity restated a “sell” rating and issued a $9.00 price objective on shares of Meridian Bioscience in a research report on Wednesday, July 31st. ValuEngine upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Meridian Bioscience currently has an average rating of “Hold” and an average target price of $11.25.

VIVO stock traded down $0.35 during trading on Wednesday, reaching $7.90. The stock had a trading volume of 470,900 shares, compared to its average volume of 341,224. The company has a current ratio of 6.93, a quick ratio of 4.75 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $431.39 million, a P/E ratio of 10.68 and a beta of 0.37. Meridian Bioscience has a 1-year low of $7.62 and a 1-year high of $19.84. The firm has a fifty day moving average price of $9.64 and a 200 day moving average price of $10.75.

Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate 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 12.65% and a return on equity of 17.82%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 EPS. Sell-side analysts predict that Meridian Bioscience will post 0.64 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP grew its position in shares of Meridian Bioscience by 4.6% during the 3rd quarter. Systematic Financial Management LP now owns 1,248,576 shares of the company’s stock worth $11,849,000 after buying an additional 55,388 shares during the period. First Trust Advisors LP acquired a new stake in shares of Meridian Bioscience during the 3rd quarter worth approximately $920,000. Mondrian Investment Partners LTD grew its position in shares of Meridian Bioscience by 39.2% during the 3rd quarter. Mondrian Investment Partners LTD now owns 175,170 shares of the company’s stock worth $1,662,000 after buying an additional 49,348 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Meridian Bioscience by 34.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 220,000 shares of the company’s stock worth $2,088,000 after buying an additional 56,000 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Meridian Bioscience by 424.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 141,056 shares of the company’s stock worth $1,338,000 after buying an additional 114,156 shares during the period. 88.20% of the stock is currently owned by institutional investors and hedge funds.

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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