Meridian Bioscience (NASDAQ:VIVO) Upgraded to Sell by ValuEngine

ValuEngine upgraded shares of Meridian Bioscience (NASDAQ:VIVO) from a strong sell rating to a sell rating in a research report sent to investors on Friday morning, ValuEngine reports.

A number of other research analysts have also issued reports on VIVO. HC Wainwright restated a buy rating and set a $34.00 price objective on shares of Meridian Bioscience in a research report on Friday. BidaskClub lowered Meridian Bioscience from a buy rating to a hold rating in a research report on Saturday, August 22nd. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $17.25.

NASDAQ:VIVO opened at $16.65 on Friday. Meridian Bioscience has a 12-month low of $5.51 and a 12-month high of $26.58. The firm has a market capitalization of $713.67 million, a P/E ratio of 16.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.00 and a quick ratio of 2.61. The business has a 50 day simple moving average of $17.39 and a 200 day simple moving average of $15.45.

Meridian Bioscience (NASDAQ:VIVO) last released its quarterly earnings data on Friday, August 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.31. Meridian Bioscience had a return on equity of 21.11% and a net margin of 18.22%. The business had revenue of $84.80 million during the quarter, compared to analyst estimates of $66.12 million. Research analysts anticipate that Meridian Bioscience will post 0.93 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC bought a new stake in Meridian Bioscience during the 2nd quarter valued at $32,000. Captrust Financial Advisors bought a new stake in Meridian Bioscience during the 2nd quarter valued at $40,000. Bartlett & Co. LLC bought a new stake in Meridian Bioscience during the 1st quarter valued at $41,000. US Bancorp DE raised its stake in Meridian Bioscience by 276.7% during the 2nd quarter. US Bancorp DE now owns 5,010 shares of the company’s stock valued at $116,000 after acquiring an additional 3,680 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Meridian Bioscience by 45.7% during the 1st quarter. SG Americas Securities LLC now owns 14,912 shares of the company’s stock valued at $125,000 after acquiring an additional 4,677 shares in the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.

Meridian Bioscience Company Profile

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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