Meridian Bioscience (NASDAQ:VIVO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, TheStreet raised shares of Meridian Bioscience from a “c+” rating to a “b” rating in a research note on Monday, July 2nd.

NASDAQ VIVO opened at $14.72 on Friday. The company has a quick ratio of 3.89, a current ratio of 5.73 and a debt-to-equity ratio of 0.27. The firm has a market cap of $631.69 million, a price-to-earnings ratio of 21.97 and a beta of 0.79. Meridian Bioscience has a 52 week low of $13.53 and a 52 week high of $17.10.

Meridian Bioscience (NASDAQ:VIVO) last issued its earnings results on Tuesday, July 31st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $51.74 million during the quarter, compared to analyst estimates of $52.17 million. Meridian Bioscience had a net margin of 11.49% and a return on equity of 16.97%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 earnings per share. Analysts predict that Meridian Bioscience will post 0.7 EPS for the current fiscal year.

In related news, Director John Mcilwraith bought 2,000 shares of the stock in a transaction dated Friday, August 24th. The stock was purchased at an average cost of $15.63 per share, with a total value of $31,260.00. Following the completion of the purchase, the director now owns 6,000 shares of the company’s stock, valued at $93,780. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in shares of Meridian Bioscience by 9.1% during the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock valued at $41,837,000 after purchasing an additional 220,500 shares during the period. Systematic Financial Management LP boosted its stake in shares of Meridian Bioscience by 11.3% during the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock valued at $17,994,000 after purchasing an additional 114,687 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Meridian Bioscience by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,334 shares of the company’s stock valued at $29,071,000 after purchasing an additional 9,714 shares during the period. SG Americas Securities LLC boosted its stake in shares of Meridian Bioscience by 60.0% during the second quarter. SG Americas Securities LLC now owns 11,742 shares of the company’s stock valued at $187,000 after purchasing an additional 4,404 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of Meridian Bioscience by 835.1% during the second quarter. Bank of Montreal Can now owns 53,468 shares of the company’s stock valued at $850,000 after purchasing an additional 47,750 shares during the period. 87.99% of the stock is owned by hedge funds and other institutional investors.

Meridian Bioscience Company Profile

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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