Wall Street analysts forecast that Meridian Bioscience, Inc. (NASDAQ:VIVO) will announce sales of $49.41 million for the current quarter, according to Zacks. Two analysts have provided estimates for Meridian Bioscience’s earnings, with estimates ranging from $49.39 million to $49.42 million. Meridian Bioscience posted sales of $50.67 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 27th.
On average, analysts expect that Meridian Bioscience will report full-year sales of $49.41 million for the current fiscal year, with estimates ranging from $194.2 million to $198.8 million. For the next financial year, analysts expect that the firm will post sales of $203.16 million per share, with estimates ranging from $202.56 million to $203.49 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Friday, April 28th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03. The business had revenue of $54.13 million for the quarter, compared to analyst estimates of $51.16 million. Meridian Bioscience had a net margin of 15.13% and a return on equity of 18.51%. Meridian Bioscience’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share.
VIVO has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Meridian Bioscience from a “sell” rating to a “hold” rating in a report on Tuesday, January 17th. Craig Hallum cut shares of Meridian Bioscience from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. CL King initiated coverage on shares of Meridian Bioscience in a report on Tuesday, March 28th. They set a “neutral” rating on the stock. Piper Jaffray Companies set a $9.00 target price on shares of Meridian Bioscience and gave the company a “sell” rating in a report on Wednesday, January 25th. Finally, Canaccord Genuity boosted their target price on shares of Meridian Bioscience from $13.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.33.
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Shares of Meridian Bioscience (NASDAQ:VIVO) traded up 1.04% on Friday, reaching $14.55. 184,002 shares of the company traded hands. The stock has a market capitalization of $614.04 million, a P/E ratio of 20.52 and a beta of 1.00. Meridian Bioscience has a one year low of $10.75 and a one year high of $20.68. The stock’s 50 day moving average price is $13.75 and its 200-day moving average price is $15.21.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 8th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, May 4th. Meridian Bioscience’s payout ratio is 71.43%.
A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA boosted its position in shares of Meridian Bioscience by 12.5% in the first quarter. BNP Paribas Arbitrage SA now owns 8,633 shares of the company’s stock worth $119,000 after buying an additional 960 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Meridian Bioscience by 7.2% in the first quarter. Mason Street Advisors LLC now owns 9,868 shares of the company’s stock worth $136,000 after buying an additional 667 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Meridian Bioscience by 1,690.1% in the first quarter. Bank of Montreal Can now owns 12,280 shares of the company’s stock worth $169,000 after buying an additional 11,594 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Meridian Bioscience during the first quarter worth about $179,000. Finally, Municipal Employees Retirement System of Michigan boosted its position in shares of Meridian Bioscience by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,340 shares of the company’s stock worth $180,000 after buying an additional 150 shares during the last quarter. Institutional investors own 87.90% of the company’s stock.
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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