Meridian Bioscience (VIVO) Issues Earnings Results, Beats Estimates By $0.04 EPS

Meridian Bioscience (NASDAQ:VIVO) released its earnings results on Thursday. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04, MarketWatch Earnings reports. The firm had revenue of $213.60 million during the quarter, compared to the consensus estimate of $51.11 million. Meridian Bioscience had a return on equity of 16.97% and a net margin of 11.49%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share.

VIVO traded up $0.09 during trading on Friday, reaching $19.72. The stock had a trading volume of 434,428 shares, compared to its average volume of 290,581. The company has a market capitalization of $719.87 million, a price-to-earnings ratio of 26.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.73 and a quick ratio of 3.89. Meridian Bioscience has a 1-year low of $13.53 and a 1-year high of $19.84.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, November 19th will be given a $0.125 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a yield of 2.54%. Meridian Bioscience’s dividend payout ratio (DPR) is 67.57%.

A number of equities research analysts have weighed in on VIVO shares. ValuEngine upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. BidaskClub upgraded Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $16.00.

In other news, Director John Mcilwraith bought 2,000 shares of the business’s stock in a transaction on Friday, August 24th. The stock was purchased at an average cost of $15.63 per share, for a total transaction of $31,260.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $93,780. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIVO. LPL Financial LLC boosted its position in shares of Meridian Bioscience by 24.2% during the 1st quarter. LPL Financial LLC now owns 21,502 shares of the company’s stock valued at $305,000 after acquiring an additional 4,196 shares during the last quarter. Guggenheim Capital LLC lifted its position in Meridian Bioscience by 57.0% in the first quarter. Guggenheim Capital LLC now owns 40,648 shares of the company’s stock worth $578,000 after buying an additional 14,757 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Meridian Bioscience in the first quarter worth $187,000. Principal Financial Group Inc. lifted its position in Meridian Bioscience by 3.0% in the first quarter. Principal Financial Group Inc. now owns 340,220 shares of the company’s stock worth $4,831,000 after buying an additional 9,861 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Meridian Bioscience by 835.1% in the second quarter. Bank of Montreal Can now owns 53,468 shares of the company’s stock worth $850,000 after buying an additional 47,750 shares during the last quarter. Hedge funds and other institutional investors own 88.56% of the company’s stock.

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Meridian Bioscience Company Profile

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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Earnings History for Meridian Bioscience (NASDAQ:VIVO)

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