Meridian Bioscience (NASDAQ:VIVO) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

VIVO has been the subject of several other reports. Canaccord Genuity reiterated a “sell” rating and set a $9.00 price target on shares of Meridian Bioscience in a research report on Wednesday, July 31st. Piper Jaffray Companies upgraded Meridian Bioscience from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $11.00 in a research report on Wednesday, May 1st. BidaskClub upgraded Meridian Bioscience from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research cut Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.25.

VIVO stock traded down $0.06 during trading on Tuesday, reaching $10.70. 168,900 shares of the company traded hands, compared to its average volume of 361,061. The company has a quick ratio of 4.75, a current ratio of 6.93 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $471.54 million, a P/E ratio of 14.46 and a beta of 0.32. The company’s 50 day moving average price is $11.52. Meridian Bioscience has a 12 month low of $10.67 and a 12 month high of $19.84.

Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $48.40 million during the quarter, compared to the consensus estimate of $49.81 million. Meridian Bioscience had a return on equity of 17.82% and a net margin of 12.65%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts expect that Meridian Bioscience will post 0.64 earnings per share for the current fiscal year.

In other news, Director James M. Anderson purchased 5,000 shares of the stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $11.37 per share, with a total value of $56,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the company. Coastal Capital Group Inc. acquired a new stake in shares of Meridian Bioscience in the second quarter worth approximately $25,000. Meeder Asset Management Inc. boosted its stake in Meridian Bioscience by 196.7% during the first quarter. Meeder Asset Management Inc. now owns 1,552 shares of the company’s stock worth $27,000 after buying an additional 1,029 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new position in Meridian Bioscience during the second quarter worth $29,000. Quadrant Capital Group LLC boosted its stake in Meridian Bioscience by 441.6% during the first quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company’s stock worth $31,000 after buying an additional 1,528 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Meridian Bioscience during the first quarter worth $56,000. 89.69% of the stock is currently 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 respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.

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