Meridian Bioscience (NASDAQ:VIVO) Releases FY 2022 Earnings Guidance

Meridian Bioscience (NASDAQ:VIVOGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $1.30-$1.40 for the period, compared to the consensus EPS estimate of $1.37. The company issued revenue guidance of $330.00 million-$345.00 million, compared to the consensus revenue estimate of $337.62 million.

Several equities analysts have recently weighed in on the company. HC Wainwright reissued a buy rating and set a $30.00 target price on shares of Meridian Bioscience in a research report on Friday, April 8th. StockNews.com assumed coverage on Meridian Bioscience in a research report on Thursday, March 31st. They issued a buy rating on the stock. Finally, Zacks Investment Research raised Meridian Bioscience from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research report on Wednesday, April 13th.

Meridian Bioscience stock traded down $2.13 during mid-day trading on Monday, hitting $24.09. The company’s stock had a trading volume of 3,288 shares, compared to its average volume of 459,434. The company has a 50 day simple moving average of $26.22. The company has a market capitalization of $1.05 billion, a PE ratio of 18.60 and a beta of 0.34. The company has a current ratio of 4.08, a quick ratio of 2.59 and a debt-to-equity ratio of 0.14. Meridian Bioscience has a one year low of $17.00 and a one year high of $28.72.

Meridian Bioscience (NASDAQ:VIVOGet Rating) last issued its earnings results on Friday, February 4th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. Meridian Bioscience had a return on equity of 18.45% and a net margin of 19.14%. The business had revenue of $88.34 million during the quarter, compared to analysts’ expectations of $73.75 million. During the same period in the prior year, the business earned $0.65 EPS. Analysts expect that Meridian Bioscience will post 1.35 earnings per share for the current fiscal year.

In other Meridian Bioscience news, CFO Andrew S. Kitzmiller purchased 4,028 shares of the firm’s stock in a transaction on Friday, February 25th. The stock was bought at an average cost of $24.87 per share, for a total transaction of $100,176.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lourdes Weltzien sold 20,000 shares of the stock in a transaction dated Tuesday, February 15th. The shares were 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. 2.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of Meridian Bioscience by 1.2% in the fourth quarter. California State Teachers Retirement System now owns 57,827 shares of the company’s stock valued at $1,180,000 after purchasing an additional 700 shares during the period. Royal Bank of Canada increased its holdings in shares of Meridian Bioscience by 5.5% in the third quarter. Royal Bank of Canada now owns 17,013 shares of the company’s stock valued at $327,000 after purchasing an additional 889 shares during the period. Credit Suisse AG grew its holdings in Meridian Bioscience by 7.2% during the fourth quarter. Credit Suisse AG now owns 34,157 shares of the company’s stock worth $697,000 after acquiring an additional 2,285 shares during the period. Legal & General Group Plc grew its holdings in Meridian Bioscience by 3.4% during the fourth quarter. Legal & General Group Plc now owns 103,866 shares of the company’s stock worth $2,119,000 after acquiring an additional 3,382 shares during the period. Finally, Morgan Stanley grew its holdings in Meridian Bioscience by 10.3% during the third quarter. Morgan Stanley now owns 196,201 shares of the company’s stock worth $3,775,000 after acquiring an additional 18,351 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Meridian Bioscience Company Profile (Get Rating)

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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