Equities analysts predict that Meridian Bioscience, Inc. (NASDAQ:VIVO) will announce $53.63 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Meridian Bioscience’s earnings, with the lowest sales estimate coming in at $52.57 million and the highest estimate coming in at $54.31 million. Meridian Bioscience reported sales of $52.28 million during the same quarter last year, which suggests a positive year over year growth rate of 2.6%. The business is scheduled to announce its next earnings report on Thursday, January 24th.
On average, analysts expect that Meridian Bioscience will report full year sales of $216.85 million for the current financial year, with estimates ranging from $212.63 million to $219.83 million. For the next fiscal year, analysts anticipate that the company will post sales of $228.84 million, with estimates ranging from $228.33 million to $229.36 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Meridian Bioscience.
Meridian Bioscience (NASDAQ:VIVO) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $213.60 million for the quarter, compared to the consensus estimate of $51.11 million. Meridian Bioscience had a net margin of 11.49% and a return on equity of 16.97%. Meridian Bioscience’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS.
VIVO has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Meridian Bioscience from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Meridian Bioscience from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research report on Saturday. Finally, ValuEngine upgraded shares of Meridian Bioscience from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.50.
In related news, Director John Mcilwraith purchased 2,000 shares of the company’s stock in a transaction on Friday, August 24th. The shares were bought at an average cost of $15.63 per share, for a total transaction of $31,260.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at $93,780. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new stake in shares of Meridian Bioscience during the 2nd quarter worth about $119,000. Piedmont Investment Advisors LLC bought a new stake in shares of Meridian Bioscience during the 2nd quarter worth about $157,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Meridian Bioscience during the 3rd quarter worth about $151,000. Itau Unibanco Holding S.A. bought a new stake in shares of Meridian Bioscience during the 2nd quarter worth about $162,000. Finally, Robecosam AG raised its position in shares of Meridian Bioscience by 194.3% during the 3rd quarter. Robecosam AG now owns 10,300 shares of the company’s stock worth $153,000 after buying an additional 6,800 shares in the last quarter. Institutional investors own 88.56% of the company’s stock.
NASDAQ:VIVO traded up $0.09 during mid-day trading on Monday, hitting $19.72. The stock had a trading volume of 434,428 shares, compared to its average volume of 290,581. The company has a market cap of $719.87 million, a PE ratio of 26.65 and a beta of 0.54. Meridian Bioscience has a 52 week low of $13.53 and a 52 week high of $19.84. The company has a quick ratio of 3.89, a current ratio of 5.73 and a debt-to-equity ratio of 0.27.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Monday, November 19th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Meridian Bioscience’s dividend payout ratio (DPR) is 67.57%.
About Meridian Bioscience
Meridian Bioscience, Inc, a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and viral diseases, respiratory and parasitic infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments.
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