BidaskClub cut shares of Meridian Bioscience (NASDAQ:VIVO) from a hold rating to a sell rating in a report published on Tuesday, BidAskClub reports.

Several other research firms have also weighed in on VIVO. Zacks Investment Research lowered Meridian Bioscience from a hold rating to a sell rating in a research report on Friday, April 12th. Canaccord Genuity lowered Meridian Bioscience from a hold rating to a sell rating and dropped their price target for the company from $17.00 to $11.00 in a research report on Wednesday, April 3rd. ValuEngine raised Meridian Bioscience from a hold rating to a buy rating in a research report on Friday, March 29th. Piper Jaffray Companies raised Meridian Bioscience from an underweight rating to a neutral rating and dropped their price target for the company from $15.00 to $11.00 in a research report on Wednesday, May 1st. Finally, Robert W. Baird dropped their price target on Meridian Bioscience from $17.00 to $14.00 and set a neutral rating on the stock in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company has an average rating of Hold and an average price target of $13.25.

NASDAQ:VIVO opened at $11.22 on Tuesday. The firm has a market cap of $480.13 million, a P/E ratio of 15.16 and a beta of 0.31. Meridian Bioscience has a 1-year low of $10.77 and a 1-year high of $19.84. The company has a current ratio of 6.01, a quick ratio of 4.31 and a debt-to-equity ratio of 0.23.

Meridian Bioscience (NASDAQ:VIVO) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $50.25 million for the quarter, compared to analyst estimates of $50.03 million. Meridian Bioscience had a return on equity of 18.58% and a net margin of 13.29%. Meridian Bioscience’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities research analysts predict that Meridian Bioscience will post 0.59 EPS for the current year.

In other news, Director James M. Anderson bought 5,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $11.37 per share, with a total value of $56,850.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John P. Kenny bought 20,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $11.49 per share, for a total transaction of $229,800.00. Following the completion of the transaction, the chief executive officer now owns 83,000 shares in the company, valued at $953,670. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 32,000 shares of company stock worth $366,170. Insiders own 2.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of VIVO. Meeder Asset Management Inc. increased its position in Meridian Bioscience by 196.7% in the 1st quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after purchasing an additional 1,029 shares during the last quarter. Quadrant Capital Group LLC increased its position in Meridian Bioscience by 441.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $31,000 after purchasing an additional 1,528 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Meridian Bioscience in the 4th quarter worth about $40,000. Ladenburg Thalmann Financial Services Inc. increased its position in Meridian Bioscience by 108.8% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,278 shares of the company’s stock worth $40,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Meridian Bioscience in the 1st quarter worth about $56,000. 91.25% of the stock is currently owned by institutional investors.

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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