Today’s Market Runner: What’s Ahead for Meridian Bioscience, Inc. After Reaching Yearly Low?

Today's Market Runner: What's Ahead for Meridian Bioscience, Inc. After Reaching Yearly Low?

The stock of Meridian Bioscience, Inc. (NASDAQ:VIVO) hit a new 52-week low and has $14.81 target or 8.00% below today’s $16.10 share price. The 7 months bearish chart indicates high risk for the $677.60 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $14.81 price target is reached, the company will be worth $54.21M 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 71,537 shares traded hands. Meridian Bioscience, Inc. (NASDAQ:VIVO) has declined 23.39% since April 1, 2016 and is downtrending. It has underperformed by 24.60% the S&P500.

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. Canaccord Genuity maintained it with “Hold” rating and $18 target price in Thursday, September 10 report. The firm has “Buy” rating by Hilliard Lyons given on Monday, March 28. The rating was downgraded by Hilliard Lyons on Monday, March 21 to “Neutral”.

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 improved, 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 America De last reported 33,495 shares in the company. The Illinois-based Citadel Advisors Ltd Llc has invested 0.01% in Meridian Bioscience, Inc. (NASDAQ:VIVO). New York State Common Retirement Fund reported 1.06 million shares or 0.03% of all its holdings. Hollencrest Securities Ltd Llc holds 35,400 shares or 0.11% of its portfolio. Moreover, Great West Life Assurance Can has 0% invested in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 6,125 shares. Navellier holds 31,633 shares or 0.09% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has 1,159 shares for 0% of their US portfolio. California State Teachers Retirement holds 87,449 shares or 0% of its portfolio. Highbridge Management Ltd Company owns 18,331 shares or 0.01% of their US portfolio. Ubs Asset Mngmt Americas holds 0% or 19,099 shares in its portfolio. Parametric Portfolio Associates Ltd last reported 0% of its portfolio in the stock. Thrivent Fincl For Lutherans holds 20,530 shares or 0% of its portfolio. State Of New Jersey Common Pension Fund D holds 0% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 50,000 shares. Goldman Sachs Group Incorporated holds 0% of its portfolio in Meridian Bioscience, Inc. (NASDAQ:VIVO) for 65,545 shares. Ahl Prns Llp owns 13,009 shares or 0.01% of their US portfolio.

Insider Transactions: Since August 11, 2016, the stock had 1 insider buy, and 0 selling transactions for $19,565 net activity. McIlwraith John bought $19,565 worth of stock.

Another recent and important Meridian Bioscience, Inc. (NASDAQ:VIVO) news was published by Reuters.com which published an article titled: “BRIEF-Meridian Bioscience Inc completed an amendment to license agreement …” on September 26, 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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