William Blair Downgrades Meridian Bioscience (NASDAQ:VIVO) to Market Perform

Meridian Bioscience (NASDAQ:VIVOGet Rating) was downgraded by stock analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, The Fly reports.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Meridian Bioscience in a research report on Friday, May 27th. StockNews.com downgraded Meridian Bioscience from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 22nd.

VIVO traded down $0.33 during trading on Thursday, reaching $33.22. 195,504 shares of the stock were exchanged, compared to its average volume of 586,050. The business’s 50 day moving average price is $27.49 and its two-hundred day moving average price is $25.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.85 and a quick ratio of 2.60. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.56 and a beta of 0.27. Meridian Bioscience has a 1 year low of $17.04 and a 1 year high of $34.38.

Meridian Bioscience (NASDAQ:VIVOGet Rating) last issued its quarterly earnings data on Friday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.18. Meridian Bioscience had a return on equity of 18.79% and a net margin of 18.34%. The business had revenue of $111.23 million for the quarter, compared to the consensus estimate of $99.55 million. On average, analysts anticipate that Meridian Bioscience will post 1.44 EPS for the current year.

In related news, CEO John P. Kenny sold 44,651 shares of the company’s stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $29.72, for a total value of $1,327,027.72. Following the completion of the transaction, the chief executive officer now directly owns 265,131 shares in the company, valued at $7,879,693.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John P. Kenny sold 61,437 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $30.39, for a total value of $1,867,070.43. Following the sale, the chief executive officer now owns 265,131 shares of the company’s stock, valued at $8,057,331.09. The disclosure for this sale can be found here. Insiders sold 119,647 shares of company stock valued at $3,600,868 over the last quarter. Insiders own 2.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Horan Securities Inc. acquired a new stake in Meridian Bioscience during the fourth quarter worth about $33,000. Prospera Financial Services Inc acquired a new stake in Meridian Bioscience during the first quarter worth about $42,000. Spire Wealth Management acquired a new stake in Meridian Bioscience during the fourth quarter worth about $47,000. Captrust Financial Advisors increased its stake in Meridian Bioscience by 23.8% during the first quarter. Captrust Financial Advisors now owns 7,782 shares of the company’s stock worth $202,000 after acquiring an additional 1,495 shares during the last quarter. Finally, Hightower 6M Holding LLC acquired a new stake in shares of Meridian Bioscience in the first quarter valued at about $207,000. Institutional investors own 94.72% of the company’s stock.

Meridian Bioscience Company Profile (Get Rating)

Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; lateral flow immunoassay using fluorescent chemistry under the Curian brand; rapid immunoassay under the ImmunoCard and ImmunoCard STAT! brands; enzyme-linked immunoassays under the PREMIER brand; anodic stripping voltammetry under the LeadCare brands; and urea breath testing for H.

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