Meridian Bioscience (VIVO) Rating Lowered to Sell at ValuEngine

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

Other equities analysts have also recently issued reports about the company. BidaskClub cut Meridian Bioscience from a strong-buy rating to a buy rating in a report on Saturday, December 15th. Zacks Investment Research cut Meridian Bioscience from a buy rating to a hold rating and set a $19.00 target price on the stock. in a report on Saturday, January 19th. Robert W. Baird decreased their target price on Meridian Bioscience from $17.00 to $14.00 and set a neutral rating on the stock in a report on Wednesday, April 3rd. Finally, Canaccord Genuity cut Meridian Bioscience from a hold rating to a sell rating and decreased their target price for the stock from $17.00 to $11.00 in a report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of Sell and an average price target of $14.75.

Shares of NASDAQ VIVO opened at $12.86 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 4.72 and a current ratio of 6.75. The firm has a market capitalization of $554.06 million, a P/E ratio of 17.38 and a beta of 0.49. Meridian Bioscience has a 52-week low of $12.70 and a 52-week high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Thursday, January 24th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The business had revenue of $51.48 million for the quarter, compared to analysts’ expectations of $51.50 million. Meridian Bioscience had a return on equity of 19.17% and a net margin of 12.06%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, research analysts expect that Meridian Bioscience will post 0.63 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of VIVO. Financial Gravity Companies Inc. acquired a new stake in shares of Meridian Bioscience in the fourth quarter worth $40,000. LS Investment Advisors LLC boosted its position in shares of Meridian Bioscience by 158.3% in the fourth quarter. LS Investment Advisors LLC now owns 3,719 shares of the company’s stock worth $65,000 after buying an additional 2,279 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Meridian Bioscience in the fourth quarter worth $106,000. Captrust Financial Advisors acquired a new stake in shares of Meridian Bioscience in the third quarter worth $134,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Meridian Bioscience in the third quarter worth $151,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

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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