Meridian Bioscience (NASDAQ:VIVO) had its price objective hoisted by stock analysts at Canaccord Genuity from $14.00 to $16.00 in a research note issued on Friday, January 26th, MarketBeat.com reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity’s target price indicates a potential upside of 8.47% from the company’s current price.
Separately, Zacks Investment Research upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th.
Shares of Meridian Bioscience (NASDAQ:VIVO) traded up $0.35 during mid-day trading on Friday, hitting $14.75. The stock had a trading volume of 427,607 shares, compared to its average volume of 290,903. Meridian Bioscience has a 1-year low of $12.45 and a 1-year high of $16.45. The stock has a market capitalization of $613.46, a price-to-earnings ratio of 28.92 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 5.82 and a quick ratio of 3.96.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, January 25th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $52.30 million for the quarter, compared to analyst estimates of $49.00 million. Meridian Bioscience had a return on equity of 17.00% and a net margin of 10.46%. Meridian Bioscience’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 earnings per share. equities analysts expect that Meridian Bioscience will post 0.71 earnings per share for the current year.
A number of large investors have recently made changes to their positions in VIVO. Systematic Financial Management LP lifted its holdings in Meridian Bioscience by 810.2% in the fourth quarter. Systematic Financial Management LP now owns 888,075 shares of the company’s stock valued at $12,433,000 after acquiring an additional 790,508 shares during the period. Millennium Management LLC lifted its holdings in Meridian Bioscience by 55.0% in the fourth quarter. Millennium Management LLC now owns 1,133,765 shares of the company’s stock valued at $15,873,000 after acquiring an additional 402,430 shares during the period. SG Capital Management LLC acquired a new position in Meridian Bioscience in the third quarter valued at approximately $5,235,000. Vanguard Group Inc. lifted its holdings in Meridian Bioscience by 9.1% in the second quarter. Vanguard Group Inc. now owns 4,018,985 shares of the company’s stock valued at $63,299,000 after acquiring an additional 334,480 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Meridian Bioscience in the second quarter valued at approximately $4,618,000. 89.12% of the stock is owned by institutional investors.
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Meridian Bioscience Company Profile
Meridian Bioscience, Inc is a life science company engaged in the development, manufacture, sale and distribution of diagnostic test kits for gastrointestinal, viral, respiratory and parasitic infectious diseases, and elevated blood lead levels, and the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/quantitative PCR (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers.
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