Analysts’ Recent Ratings Updates for Meridian Bioscience (VIVO)

Meridian Bioscience (NASDAQ: VIVO) has recently received a number of price target changes and ratings updates:

  • 4/13/2022 – Meridian Bioscience was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 price target on the stock. 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. “
  • 4/12/2022 – Meridian Bioscience was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. 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. “
  • 4/8/2022 – Meridian Bioscience had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $30.00 price target on the stock.
  • 3/31/2022 – Meridian Bioscience is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of NASDAQ:VIVO traded up $0.39 during midday trading on Wednesday, reaching $27.78. The company had a trading volume of 7,472 shares, compared to its average volume of 480,454. The company has a fifty day simple moving average of $25.93. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 20.43 and a beta of 0.34. Meridian Bioscience, Inc. has a 1-year low of $17.00 and a 1-year high of $28.72. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.59 and a current ratio of 4.08.

Meridian Bioscience (NASDAQ:VIVOGet Rating) last announced its earnings results on Friday, February 4th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. Meridian Bioscience had a net margin of 19.14% and a return on equity of 18.45%. The company had revenue of $88.34 million during the quarter, compared to analysts’ expectations of $73.75 million. During the same period last year, the company posted $0.65 earnings per share. As a group, sell-side analysts forecast that Meridian Bioscience, Inc. will post 1.38 earnings per share for the current fiscal year.

In related news, CFO Andrew S. Kitzmiller purchased 4,028 shares of the stock in a transaction dated Friday, February 25th. The shares were acquired at an average cost of $24.87 per share, for a total transaction of $100,176.36. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lourdes Weltzien sold 20,000 shares of the stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $25.60, for a total value of $512,000.00. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its position in Meridian Bioscience by 2.9% in the third quarter. Citigroup Inc. now owns 24,894 shares of the company’s stock worth $479,000 after acquiring an additional 691 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Meridian Bioscience by 1.2% during the 4th quarter. California State Teachers Retirement System now owns 57,827 shares of the company’s stock worth $1,180,000 after acquiring an additional 700 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Meridian Bioscience by 5.5% in the 3rd quarter. Royal Bank of Canada now owns 17,013 shares of the company’s stock valued at $327,000 after acquiring an additional 889 shares in the last quarter. Teton Advisors Inc. lifted its holdings in Meridian Bioscience by 6.4% in the 4th quarter. Teton Advisors Inc. now owns 25,000 shares of the company’s stock worth $510,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Horan Securities Inc. bought a new stake in Meridian Bioscience during the fourth quarter worth approximately $33,000. 94.50% of the stock is currently owned by institutional investors.

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; lateral flow immunoassay using fluorescent chemistry under the Curian brand; rapid immunoassay under the ImmunoCard and ImmunoCard STAT! brands; enzyme-linked immunoassays under the PREMIER brand; anodic stripping voltammetry under the LeadCare brands; and urea breath testing for H.

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