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. “
Several other equities research analysts have also recently issued reports on VIVO. ValuEngine cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. BidaskClub cut Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Canaccord Genuity reiterated a “buy” rating and issued a $1.80 price objective on shares of Meridian Bioscience in a report on Wednesday, June 5th. Finally, Robert W. Baird lowered their price objective on Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.45.
Meridian Bioscience (NASDAQ:VIVO) last posted its earnings results on Tuesday, April 30th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. Meridian Bioscience had a return on equity of 18.58% and a net margin of 13.29%. The firm had revenue of $50.25 million for the quarter, compared to analysts’ expectations of $50.03 million. During the same period last year, the firm earned $0.21 EPS. The company’s quarterly revenue was down 11.0% on a year-over-year basis. Sell-side analysts expect that Meridian Bioscience will post 0.56 earnings per share for the current fiscal year.
In other news, CEO John P. Kenny acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average cost of $11.49 per share, for a total transaction of $229,800.00. Following the acquisition, the chief executive officer now owns 83,000 shares in the company, valued at approximately $953,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Phillips acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average price of $11.40 per share, for a total transaction of $57,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 32,000 shares of company stock worth $366,170. 2.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in shares of Meridian Bioscience by 196.7% during the 1st quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after purchasing an additional 1,029 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Meridian Bioscience by 441.6% during the 1st quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $31,000 after purchasing an additional 1,528 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Meridian Bioscience by 108.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,278 shares of the company’s stock worth $40,000 after purchasing an additional 1,187 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Meridian Bioscience during the 1st quarter worth approximately $56,000. Finally, LS Investment Advisors LLC boosted its holdings in shares of Meridian Bioscience by 158.3% during the 4th quarter. LS Investment Advisors LLC now owns 3,719 shares of the company’s stock worth $65,000 after purchasing an additional 2,279 shares during the last quarter. Institutional investors and hedge funds own 90.35% 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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