Analysts Forecast Meridian Bioscience, Inc. (NASDAQ: VIVO) to Post Quarterly Sales of $83.30 Million
Stock analysts expect Meridian Bioscience, Inc. (NASDAQ: VIVO – Get Rating) to post sales of $83.30 million for the current quarter, Zacks reports. Two analysts provided earnings estimates for Meridian Bioscience, with estimates ranging from $78.50 million to $88.10 million. Meridian Bioscience reported sales of $85.26 million in the same quarter last year, which would indicate a negative 2.3% year-over-year growth rate. The company is expected to release its next results on Friday, May 6.
On average, analysts expect Meridian Bioscience to report annual revenue of $321.35 million for the current fiscal year, with estimates ranging from $319.80 to $322.90 million. For the next fiscal year, analysts expect the company to record sales of $328.05 million, with estimates ranging from $325.50 to $330.60 million. Zacks Investment Research sales averages are an average average based on a survey of sell-side analysts who follow Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO – Get Rating) last reported quarterly earnings data on Thursday, February 3. The company reported earnings per share (EPS) of $0.35 for the quarter, beating Thomson Reuters consensus estimate of $0.25 by $0.10. Meridian Bioscience posted a net margin of 22.46% and a return on equity of 23.61%. During the same period a year earlier, the company posted EPS of $0.65.
Several research companies have recently weighed in on VIVO. StockNews.com upgraded Meridian Bioscience shares from a “hold” rating to a “buy” rating in a Monday, Feb. 7 research report. Zacks Investment Research upgraded Meridian Bioscience shares from a “hold” rating to a “strong-buy” rating and set a target price of $30.00 on the stock in a Wednesday, Feb. 9 research report . Finally, HC Wainwright raised its price target on Meridian Bioscience shares from $28.00 to $30.00 and gave the stock a “buy” rating in a Monday, Feb. 7 research report.
VIVO shares opened at $24.12 on Thursday. The stock has a 50-day simple moving average of $21.93. The company has a market capitalization of $1.05 billion, a PE ratio of 14.89 and a beta of 0.41. The company has a debt ratio of 0.18, a current ratio of 4.09 and a quick ratio of 2.46. Meridian Bioscience has a 12 month minimum of $17.00 and a 12 month maximum of $29.74.
In a similar vein, Executive Vice President Lourdes Weltzien sold 20,000 shares of the company in a transaction that took place on Tuesday, February 15. The shares were sold at an average price of $25.60, for a total transaction of $512,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Insiders of the company own 2.30% of the shares of the company.
Hedge funds have recently been buying and selling stocks. Horan Securities Inc. acquired a new equity stake in Meridian Bioscience during the fourth quarter worth approximately $33,000. Spire Wealth Management acquired a new equity stake in Meridian Bioscience during the fourth quarter worth approximately $47,000. Man Group plc acquired a new stake in Meridian Bioscience in the second quarter worth approximately $231,000. ProShare Advisors LLC acquired a new stake in Meridian Bioscience in the fourth quarter valued at approximately $217,000. Finally, AlphaCrest Capital Management LLC acquired a new stake in Meridian Bioscience in the third quarter valued at approximately $229,000. Institutional investors and hedge funds hold 94.48% of the company’s shares.
About Meridian Bioscience (Get an evaluation)
Meridian Bioscience, Inc. engages in the development, production, sale and distribution of diagnostic products. Its platforms include molecular, immunological, urea breath and blood chemistry analyses. It operates through Diagnostics and Life Sciences segments. The Diagnostics segment includes the business of manufacturing infectious disease and blood chemistry products as well as the sale and distribution of diagnostic products domestically and abroad.
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