Stock of The Day: Meridian Bioscience, Inc. Just Reaches 52 Week Low?

Stock of The Day: Meridian Bioscience, Inc. Just Reaches 52 Week Low?

The stock of Meridian Bioscience, Inc. (NASDAQ:VIVO) hit a new 52-week low and has $15.39 target or 5.00% below today’s $16.20 share price. The 7 months bearish chart indicates high risk for the $669.59 million company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $15.39 price target is reached, the company will be worth $33.48 million 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 134,292 shares traded hands. Meridian Bioscience, Inc. (NASDAQ:VIVO) has declined 19.40% since March 28, 2016 and is downtrending. It has underperformed by 24.11% 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 $8.27M for 20.25 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 “Buy” rating given on Monday, March 28 by Hilliard Lyons. The firm has “Neutral” rating given on Monday, March 21 by Hilliard Lyons. The stock of Meridian Bioscience, Inc. (NASDAQ:VIVO) has “Hold” rating given on Thursday, September 10 by Canaccord Genuity.

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 Q2 2016. 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.
Moreover, Randolph has 0.54% invested in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 107,200 shares. Sei Comm holds 1,254 shares or 0% of its portfolio. Capstone Asset Mgmt Communication accumulated 235,439 shares or 0.14% of the stock. National Bank Of Montreal Can, a Ontario – Canada-based fund reported 2,430 shares. Royal Commercial Bank Of Canada last reported 44,499 shares in the company. Ubs Asset Mngmt Americas reported 19,099 shares or 0% of all its holdings. Gsa Cap Prtn Ltd Liability Partnership holds 141,890 shares or 0.15% of its portfolio. Parametric Portfolio Associate Ltd Liability Corp has 119,149 shares for 0% of their US portfolio. Wellington Group Incorporated Limited Liability Partnership reported 35,300 shares or 0% of all its holdings. Arizona State Retirement Sys has 21,841 shares for 0.01% of their US portfolio. State Of New Jersey Common Pension Fund D has 0% invested in the company for 50,000 shares. Brown Cap Mgmt Lc, a Maryland-based fund reported 5.72 million shares. Aperio Grp Inc Ltd Llc last reported 13,207 shares in the company. First Republic Management holds 11,183 shares or 0% of its portfolio. Connors Investor Services Inc accumulated 0.57% or 150,861 shares.

Insider Transactions: Since April 29, 2016, the stock had 1 insider purchase, and 0 sales for $19,565 net activity. 1,000 shares with value of $19,565 were bought by McIlwraith John on Thursday, August 11. $147,844 worth of Meridian Bioscience, Inc. (NASDAQ:VIVO) was bought by Sazdanoff Catherine.

Another recent and important Meridian Bioscience, Inc. (NASDAQ:VIVO) news was published by Globenewswire.com which published an article titled: “Meridian Bioscience, Inc. Receives FDA Clearance for New Molecular Test for …” on June 15, 2016.

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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