Meridian Bioscience Inc. (NASDAQ:VIVO) – Equities researchers at William Blair reduced their FY2017 EPS estimates for Meridian Bioscience in a research report issued on Thursday. William Blair analyst B. Weinstein now forecasts that the firm will earn $0.66 per share for the year, down from their previous forecast of $0.83.
Several other research analysts also recently commented on VIVO. Zacks Investment Research downgraded Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Friday. Piper Jaffray Companies set a $9.00 price target on Meridian Bioscience and gave the company a “sell” rating in a report on Wednesday. Craig Hallum cut Meridian Bioscience from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research report on Monday, November 14th. TheStreet cut Meridian Bioscience from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, Canaccord Genuity reissued a “neutral” rating and issued a $18.00 price objective on shares of Meridian Bioscience in a research report on Wednesday, October 19th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $17.60.
Shares of Meridian Bioscience (NASDAQ:VIVO) traded up 1.800% on Friday, hitting $12.725. The stock had a trading volume of 513,065 shares. The company has a market cap of $535.82 million, a P/E ratio of 18.179 and a beta of 0.97. The company’s 50 day moving average price is $17.39 and its 200-day moving average price is $18.34. Meridian Bioscience has a 12 month low of $10.75 and a 12 month high of $21.49.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 16th. Shareholders of record on Monday, February 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.50 dividend on an annualized basis and a yield of 4.00%. Meridian Bioscience’s dividend payout ratio is currently 114.29%.
In other news, EVP Vecheslav A. Elagin sold 7,883 shares of the business’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $17.30, for a total value of $136,375.90. Following the completion of the transaction, the executive vice president now owns 52,926 shares of the company’s stock, valued at approximately $915,619.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John A. Kraeutler acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 4th. The stock was bought at an average cost of $16.13 per share, with a total value of $80,650.00. Following the acquisition, the chairman now owns 316,683 shares in the company, valued at $5,108,096.79. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 10,920 shares of company stock valued at $176,512. 2.30% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Meridian Bioscience by 40.5% in the second quarter. BlackRock Inc. now owns 5,415 shares of the company’s stock valued at $105,000 after buying an additional 1,560 shares during the period. Bartlett & Co. LLC boosted its position in shares of Meridian Bioscience by 18.6% in the second quarter. Bartlett & Co. LLC now owns 5,739 shares of the company’s stock valued at $112,000 after buying an additional 900 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Meridian Bioscience by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,880 shares of the company’s stock valued at $115,000 after buying an additional 708 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Meridian Bioscience by 1,405.3% in the second quarter. Tower Research Capital LLC TRC now owns 6,006 shares of the company’s stock valued at $117,000 after buying an additional 5,607 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in shares of Meridian Bioscience during the second quarter valued at about $127,000. 87.10% of the stock is owned by institutional investors and hedge funds.
Meridian Bioscience Company Profile
Meridian Bioscience, Inc (Meridian) is an integrated life science company. The Company is engaged in developing, manufacturing, selling and distribution of clinical diagnostic test kits, for certain gastrointestinal, viral, respiratory and parasitic infectious diseases; the manufacture and distribution of bulk antigens, antibodies, polymerase chain reaction (PCR)/ quantitative polymerase chain reaction (qPCR) reagents, nucleotides, competent cells and bioresearch reagents used by researchers and other diagnostic manufacturers, and the contract development and manufacture of proteins and other biologicals under cyclic guanosine monophosphate (cGMP) conditions for use by biopharmaceutical and biotechnology companies engaged in research for new drugs and vaccines.