ValuEngine Upgrades Meridian Bioscience (VIVO) to “Buy”

ValuEngine upgraded shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a buy rating in a research note published on Monday.

Several other equities research analysts have also commented on VIVO. BidaskClub raised shares of Meridian Bioscience from a hold rating to a buy rating in a research note on Wednesday, October 24th. TheStreet raised shares of Meridian Bioscience from a c+ rating to a b rating in a research note on Monday, July 2nd. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Meridian Bioscience presently has an average rating of Buy and a consensus target price of $16.00.

NASDAQ:VIVO opened at $16.21 on Monday. Meridian Bioscience has a one year low of $13.53 and a one year high of $17.10. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.89 and a current ratio of 5.73. The stock has a market cap of $691.04 million, a P/E ratio of 24.19 and a beta of 0.79.

Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. Meridian Bioscience had a net margin of 11.49% and a return on equity of 16.97%. The business had revenue of $51.74 million for the quarter, compared to analyst estimates of $52.17 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Meridian Bioscience’s quarterly revenue was up 3.2% on a year-over-year basis. Research analysts anticipate that Meridian Bioscience will post 0.7 EPS for the current fiscal year.

In other news, Director John Mcilwraith bought 2,000 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were purchased at an average price of $15.63 per share, for a total transaction of $31,260.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at approximately $93,780. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Meridian Bioscience by 9.6% in the second quarter. BlackRock Inc. now owns 5,901,032 shares of the company’s stock worth $93,827,000 after buying an additional 518,731 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Meridian Bioscience by 9.1% in the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock worth $41,837,000 after buying an additional 220,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Meridian Bioscience by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,828,334 shares of the company’s stock worth $29,071,000 after buying an additional 9,714 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of Meridian Bioscience by 11.3% in the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock worth $17,994,000 after buying an additional 114,687 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Meridian Bioscience by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 811,847 shares of the company’s stock worth $12,908,000 after buying an additional 13,937 shares in the last quarter. Hedge funds and other institutional investors own 88.12% 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 viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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