Meridian Bioscience (VIVO) Hits New 12-Month Low After Analyst Downgrade

Meridian Bioscience, Inc. (NASDAQ:VIVO) hit a new 52-week low during mid-day trading on Wednesday after Robert W. Baird lowered their price target on the stock from $17.00 to $14.00. Robert W. Baird currently has a neutral rating on the stock. Meridian Bioscience traded as low as $13.28 and last traded at $13.20, with a volume of 754016 shares trading hands. The stock had previously closed at $14.20.

Several other equities research analysts have also issued reports on VIVO. BidaskClub lowered Meridian Bioscience from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 15th. Zacks Investment Research lowered Meridian Bioscience from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Saturday, January 19th. Finally, ValuEngine lowered Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $14.75.

Several institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Meridian Bioscience by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 30,198 shares of the company’s stock valued at $524,000 after purchasing an additional 664 shares during the last quarter. LPL Financial LLC increased its holdings in Meridian Bioscience by 4.4% in the 4th quarter. LPL Financial LLC now owns 22,259 shares of the company’s stock worth $386,000 after acquiring an additional 934 shares during the last quarter. Texas Permanent School Fund increased its holdings in Meridian Bioscience by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 27,748 shares of the company’s stock worth $482,000 after acquiring an additional 1,073 shares during the last quarter. Cardinal Capital Management increased its holdings in Meridian Bioscience by 4.0% in the 4th quarter. Cardinal Capital Management now owns 30,072 shares of the company’s stock worth $522,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Stone Ridge Asset Management LLC increased its holdings in Meridian Bioscience by 3.7% in the 4th quarter. Stone Ridge Asset Management LLC now owns 39,147 shares of the company’s stock worth $680,000 after acquiring an additional 1,412 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

The firm has a market capitalization of $603.35 million, a price-to-earnings ratio of 18.14 and a beta of 0.49. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.75 and a quick ratio of 4.72.

Meridian Bioscience (NASDAQ:VIVO) last announced its quarterly earnings data on Thursday, January 24th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Meridian Bioscience had a return on equity of 19.17% and a net margin of 12.06%. The company had revenue of $51.48 million during the quarter, compared to analyst estimates of $51.50 million. During the same quarter last year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts anticipate that Meridian Bioscience, Inc. will post 0.63 earnings per share for the current year.

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Meridian Bioscience Company Profile (NASDAQ:VIVO)

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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