Worth Watching: Could Meridian Bioscience, Inc. Go Up After Touching 1 Year Low?


Worth Watching: Could Meridian Bioscience, Inc. Go Up After Touching 1 Year Low?

The stock of Meridian Bioscience, Inc. (NASDAQ:VIVO) hit a new 52-week low and has $16.43 target or 7.00% below today’s $17.67 share price. The 6 months bearish chart indicates high risk for the $745.88 million company. The 1-year low was reported on Oct, 19 by Barchart.com. If the $16.43 price target is reached, the company will be worth $52.21M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 134,880 shares traded hands. Meridian Bioscience, Inc. (NASDAQ:VIVO) has declined 8.62% since March 16, 2016 and is downtrending. It has underperformed by 14.17% the S&P500.

Analysts await Meridian Bioscience, Inc. (NASDAQ:VIVO) to report earnings on November, 3. They expect $0.20 earnings per share, 0.00% or $0.00 from last year’s $0.2 per share. VIVO’s profit will be $8.44M for 22.09 P/E if the $0.20 EPS becomes a reality. After $0.21 actual earnings per share reported by Meridian Bioscience, Inc. for the previous quarter, Wall Street now forecasts -4.76% negative EPS growth.

Meridian Bioscience, Inc. (NASDAQ:VIVO) Ratings Coverage

Out of 3 analysts covering Meridian Bioscience (NASDAQ:VIVO), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Meridian Bioscience has been the topic of 6 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Canaccord Genuity given on Thursday, September 10. The company was downgraded on Monday, March 21 by Hilliard Lyons. As per Monday, March 28, the company rating was upgraded by Hilliard Lyons.

According to Zacks Investment Research, “Meridian is a fully integrated life sciences company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections.”

Insitutional Activity: The institutional sentiment increased to 1.73 in 2016 Q2. Its up 0.53, from 1.2 in 2016Q1. The ratio is positive, as 12 funds sold all Meridian Bioscience, Inc. shares owned while 40 reduced positions. 23 funds bought stakes while 67 increased positions. They now own 36.60 million shares or 3.83% less from 38.06 million shares in 2016Q1.
Commercial Bank Of New York Mellon accumulated 0.01% or 1.39 million shares. State Of New Jersey Common Pension Fund D has invested 0% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO). Natl Bank Of America De owns 33,495 shares or 0% of their US portfolio. Analytic Lc has invested 0.05% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO). Sector Pension Invest Board last reported 28,805 shares in the company. California Employees Retirement Sys holds 0% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 93,100 shares. Meeder Asset Mngmt Inc has 0.02% invested in the company for 9,702 shares. State Of Tennessee Treasury Department owns 33,284 shares or 0% of their US portfolio. Ameriprise Fin owns 210,280 shares or 0% of their US portfolio. Crawford Counsel Incorporated owns 81,140 shares or 0.06% of their US portfolio. Capstone Invest Advsr Ltd Liability Corporation holds 0.01% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 18,532 shares. Menta Capital Lc accumulated 122,448 shares or 0.33% of the stock. Acadian Asset Mngmt Ltd Company holds 0.06% or 576,007 shares in its portfolio. Wellington Management Gp Llp last reported 35,300 shares in the company. Kcg Hldgs Inc holds 0% or 11,893 shares in its portfolio.

Insider Transactions: Since April 29, 2016, the stock had 2 insider buys, and 0 insider sales for $167,409 net activity. $147,844 worth of Meridian Bioscience, Inc. (NASDAQ:VIVO) was bought by Sazdanoff Catherine on Friday, April 29. 1,000 Meridian Bioscience, Inc. (NASDAQ:VIVO) shares with value of $19,565 were bought by McIlwraith John.

More news for Meridian Bioscience, Inc. (NASDAQ:VIVO) were recently published by: Globenewswire.com, which released: “Meridian Bioscience, Inc. Comments on Preliminary Fiscal 2016 Operating …” on October 18, 2016. Benzinga.com‘s article titled: “Stocks Hitting 52-Week Lows” and published on October 19, 2016 is yet another important article.

VIVO Company Profile

Meridian Bioscience, Inc. (Meridian), incorporated on June 25, 1976, is an integrated life science company. The Firm 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. The Firm operates in two divisions: Diagnostics and Life Science.

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