Meridian Bioscience (VIVO) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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Meridian Bioscience (NASDAQ:VIVO) announced its quarterly earnings data on Thursday. The company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.04, MarketWatch Earnings reports. The firm had revenue of $213.60 million during the quarter, compared to analyst estimates of $51.11 million. Meridian Bioscience had a return on equity of 16.97% and a net margin of 11.49%. Meridian Bioscience’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 earnings per share.

Shares of NASDAQ:VIVO traded up $0.09 during trading on Friday, hitting $19.72. 434,428 shares of the company traded hands, compared to its average volume of 290,581. The firm has a market capitalization of $719.87 million, a PE ratio of 26.65 and a beta of 0.54. Meridian Bioscience has a one year low of $13.53 and a one year high of $19.84. The company has a current ratio of 5.73, a quick ratio of 3.89 and a debt-to-equity ratio of 0.27.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Monday, November 19th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, November 16th. Meridian Bioscience’s dividend payout ratio (DPR) is presently 67.57%.

Several analysts recently weighed in on the company. ValuEngine raised Meridian Bioscience from a “hold” rating to a “buy” rating in a report on Monday, October 29th. BidaskClub lowered Meridian Bioscience from a “hold” rating to a “sell” rating in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.00.

In related news, Director John Mcilwraith bought 2,000 shares of the stock in a transaction dated Friday, August 24th. The stock was bought at an average cost of $15.63 per share, with a total value of $31,260.00. Following the completion of the acquisition, 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 SEC, which can be accessed through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in shares of Meridian Bioscience by 9.1% during the second quarter. Renaissance Technologies LLC now owns 2,631,276 shares of the company’s stock valued at $41,837,000 after purchasing an additional 220,500 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Meridian Bioscience by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,828,334 shares of the company’s stock valued at $29,071,000 after purchasing an additional 9,714 shares during the last quarter. Systematic Financial Management LP grew its holdings in shares of Meridian Bioscience by 11.3% during the second quarter. Systematic Financial Management LP now owns 1,131,715 shares of the company’s stock valued at $17,994,000 after purchasing an additional 114,687 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Meridian Bioscience by 60.0% during the second quarter. SG Americas Securities LLC now owns 11,742 shares of the company’s stock valued at $187,000 after purchasing an additional 4,404 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Meridian Bioscience by 9.6% during the second quarter. BlackRock Inc. now owns 5,901,032 shares of the company’s stock valued at $93,827,000 after purchasing an additional 518,731 shares during the last quarter. 88.56% of the stock is owned by institutional investors.

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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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Earnings History for Meridian Bioscience (NASDAQ:VIVO)

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