Meridian Bioscience (VIVO) Sets New 1-Year Low at $11.03

Meridian Bioscience, Inc. (NASDAQ:VIVO)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $11.03 and last traded at $11.16, with a volume of 16618 shares. The stock had previously closed at $11.32.

VIVO has been the topic of a number of research reports. ValuEngine lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. BidaskClub lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Canaccord Genuity lowered shares of Meridian Bioscience from a “hold” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a report on Wednesday, April 3rd. Finally, Robert W. Baird reduced their target price on shares of Meridian Bioscience from $17.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.25.

The firm has a market capitalization of $483.53 million, a PE ratio of 15.16 and a beta of 0.31. The company has a current ratio of 6.01, a quick ratio of 4.31 and a debt-to-equity ratio of 0.23.

Meridian Bioscience (NASDAQ:VIVO) last released its earnings results on Tuesday, April 30th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.04. Meridian Bioscience had a net margin of 13.29% and a return on equity of 18.58%. The company had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.03 million. During the same period in the prior year, the business earned $0.21 EPS. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. On average, research analysts expect that Meridian Bioscience, Inc. will post 0.59 EPS for the current year.

In other news, CEO John P. Kenny acquired 20,000 shares of Meridian Bioscience stock in a transaction dated Wednesday, May 8th. The shares were acquired 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 of the company’s stock, valued at $953,670. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David Phillips acquired 5,000 shares of Meridian Bioscience stock in a transaction dated 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. 2.00% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in shares of Meridian Bioscience by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 30,198 shares of the company’s stock valued at $524,000 after buying an additional 664 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Meridian Bioscience by 4.4% in the fourth quarter. LPL Financial LLC now owns 22,259 shares of the company’s stock valued at $386,000 after purchasing an additional 934 shares during the period. Comerica Bank lifted its stake in shares of Meridian Bioscience by 2.3% in the first quarter. Comerica Bank now owns 42,420 shares of the company’s stock valued at $562,000 after purchasing an additional 937 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Meridian Bioscience by 196.7% in the first quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock valued at $27,000 after purchasing an additional 1,029 shares during the period. Finally, Texas Permanent School Fund lifted its stake in shares of Meridian Bioscience by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 27,748 shares of the company’s stock valued at $482,000 after purchasing an additional 1,073 shares during the period. Institutional investors and hedge funds own 92.91% of the company’s stock.

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About Meridian Bioscience (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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