Meridian Bioscience, Inc. (NASDAQ:VIVO) Sees Significant Growth in Short Interest

Meridian Bioscience, Inc. (NASDAQ:VIVO) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totalling 3,420,000 shares, a growth of 12.9% from the October 15th total of 3,030,000 shares. Approximately 8.1% of the company’s shares are sold short. Based on an average daily volume of 609,800 shares, the short-interest ratio is currently 5.6 days.

Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in Meridian Bioscience during the 3rd quarter worth about $31,000. Private Advisor Group LLC bought a new position in shares of Meridian Bioscience during the 2nd quarter worth about $32,000. Altshuler Shaham Ltd boosted its position in shares of Meridian Bioscience by 51.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 1,874 shares of the company’s stock worth $32,000 after purchasing an additional 638 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of Meridian Bioscience during the 2nd quarter worth about $40,000. Finally, USA Financial Portformulas Corp bought a new position in shares of Meridian Bioscience during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 90.96% of the company’s stock.

Shares of Meridian Bioscience stock opened at $19.00 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.61 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $18.09 and a two-hundred day moving average price of $18.31. Meridian Bioscience has a 1-year low of $5.51 and a 1-year high of $26.58. The company has a market cap of $814.40 million, a P/E ratio of 18.45 and a beta of 0.60.

Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Wednesday, November 18th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.05. Meridian Bioscience had a return on equity of 21.11% and a net margin of 18.22%. Equities research analysts forecast that Meridian Bioscience will post 1.02 EPS for the current fiscal year.

A number of analysts recently weighed in on VIVO shares. Piper Sandler increased their price objective on Meridian Bioscience from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, November 16th. BidaskClub upgraded Meridian Bioscience from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 8th. HC Wainwright decreased their price objective on Meridian Bioscience from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, November 16th. Finally, ValuEngine downgraded Meridian Bioscience from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 10th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $21.92.

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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