Meridian Bioscience (VIVO) Rating Increased to Strong-Buy at Zacks Investment Research

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Meridian Bioscience (NASDAQ:VIVO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday. The firm presently has a $23.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 16.63% from the stock’s current price.

According to Zacks, “Meridian Bioscience, Inc. is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and biopharmaceutical enabling technologies that help deliver answers. Its products provide accuracy, simplicity and speed for the early diagnosis and treatment of common medical conditions, such as C. difficile, H. pylori, foodborne diseases and respiratory infections. In addition, the company develops and manufactures a variety of biological and non-biological materials used in proficiency testing programs. Meridian diagnostic products are used outside of the human body and require little or no special equipment. Meridian Bioscience designs their products to enhance the well-being of the patient-while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal infections, serology, parasitology and fungal disease diagnosis. “

VIVO has been the subject of several other reports. BidaskClub lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. ValuEngine raised Meridian Bioscience from a “hold” rating to a “buy” rating in a research note on Monday, October 29th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.50.

Shares of VIVO stock traded up $0.09 during mid-day trading on Friday, hitting $19.72. 434,428 shares of the stock traded hands, compared to its average volume of 290,581. Meridian Bioscience has a twelve month low of $13.53 and a twelve month high of $19.84. The stock has a market cap of $719.87 million, a PE ratio of 26.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.89 and a current ratio of 5.73.

Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.04. Meridian Bioscience had a return on equity of 16.97% and a net margin of 11.49%. The company had revenue of $213.60 million for the quarter, compared to analysts’ expectations of $51.11 million. During the same period last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts predict that Meridian Bioscience will post 0.77 earnings per share for the current year.

In related news, Director John Mcilwraith acquired 2,000 shares of Meridian Bioscience stock in a transaction dated Friday, August 24th. The stock was acquired at an average cost of $15.63 per share, with a total value of $31,260.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $93,780. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Several institutional investors have recently modified their holdings of VIVO. BlackRock Inc. boosted its position in shares of Meridian Bioscience by 9.6% in the second quarter. BlackRock Inc. now owns 5,901,032 shares of the company’s stock worth $93,827,000 after buying an additional 518,731 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Meridian Bioscience in the third quarter worth $4,301,000. Renaissance Technologies LLC boosted its position in shares of Meridian Bioscience by 9.1% in the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock worth $41,837,000 after buying an additional 220,500 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Meridian Bioscience in the second quarter worth $3,369,000. Finally, Systematic Financial Management LP boosted its position in shares of Meridian Bioscience by 11.3% in the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock worth $17,994,000 after buying an additional 114,687 shares during the period. 88.56% of the stock is owned by institutional investors and hedge funds.

About Meridian Bioscience

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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