Meridian Bioscience Inc. [NASDAQ: VIVO] loss -5.20% or -0.96 points to close at $17.49 with a heavy trading volume of 1202060 shares. The company report on August 7, 2020 that Meridian Bioscience Reports Fiscal Third Quarter 2020 Operating Results – Best Quarter in Company History – Raises Full Year Guidance.
Meridian Bioscience, Inc. (NASDAQ: VIVO) today announced financial results for the fiscal third quarter ended June 30, 2020.
Third Quarter Fiscal 2020 Highlights:.
It opened the trading session at $18.45, the shares rose to $18.79 and dropped to $17.34, the range by which the price of stock traded the whole day. The daily chart for VIVO points out that the company has recorded 114.08% gains over the past six months. However, it is still -217.42% lower than its most recent low trading price.
If we look at the average trading volume of 819.88K shares, VIVO reached to a volume of 1202060 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Meridian Bioscience Inc. [VIVO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VIVO shares is $26.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VIVO stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Meridian Bioscience Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 11, 2020. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 27, 2020, representing the official price target for Meridian Bioscience Inc. stock. On May 01, 2019, analysts decreased their price target for VIVO shares from 15 to 11.
The Average True Range (ATR) for Meridian Bioscience Inc. is set at 1.85, with the Price to Sales ratio for VIVO stock in the period of the last 12 months amounting to 4.62. The Price to Book ratio for the last quarter was 3.66, with the Price to Cash per share for the same quarter was set at 0.92. Price to Free Cash Flow for VIVO in the course of the last twelve months was 34.50 with Quick ratio for the last quarter at 2.50.
Trading performance analysis for VIVO stock
Meridian Bioscience Inc. [VIVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.30. With this latest performance, VIVO shares dropped by -24.97% in over the last four-week period, additionally plugging by 114.08% over the last 6 months – not to mention a rise of 62.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VIVO stock in for the last two-week period is set at 33.15, with the RSI for the last a single of trading hit 25.18, and the three-weeks RSI is set at 38.29 for Meridian Bioscience Inc. [VIVO]. The present Moving Average for the last 50 days of trading for this stock 21.37, while it was recorded at 21.19 for the last single week of trading, and 12.75 for the last 200 days.
Meridian Bioscience Inc. [VIVO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Meridian Bioscience Inc. [VIVO] shares currently have an operating margin of +19.37 and a Gross Margin at +58.86. Meridian Bioscience Inc.’s Net Margin is presently recorded at +12.13.
Return on Total Capital for VIVO is now 15.81, given the latest momentum, and Return on Invested Capital for the company is 10.01. Return on Equity for this stock inclined to 13.31, with Return on Assets sitting at 8.45. When it comes to the capital structure of this company, Meridian Bioscience Inc. [VIVO] has a Total Debt to Total Equity ratio set at 39.71. Additionally, VIVO Total Debt to Total Capital is recorded at 28.42, with Total Debt to Total Assets ending up at 23.30. Long-Term Debt to Equity for the company is recorded at 39.71, with the Long-Term Debt to Total Capital now at 28.42.
Reflecting on the efficiency of the workforce at the company, Meridian Bioscience Inc. [VIVO] managed to generate an average of $36,942 per employee. Receivables Turnover for the company is 5.92 with a Total Asset Turnover recorded at a value of 0.70.Meridian Bioscience Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 3.60.
Meridian Bioscience Inc. [VIVO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Meridian Bioscience Inc. posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VIVO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Meridian Bioscience Inc. go to 17.00%.
An analysis of insider ownership at Meridian Bioscience Inc. [VIVO]
There are presently around $600 million, or 82.90% of VIVO stock, in the hands of institutional investors. The top three institutional holders of VIVO stocks are: BLACKROCK INC. with ownership of 6,570,489, which is approximately -4.861% of the company’s market cap and around 0.80% of the total institutional ownership; VANGUARD GROUP INC, holding 4,299,771 shares of the stock with an approximate value of $75.2 million in VIVO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $55.13 million in VIVO stock with ownership of nearly -4.094% of the company’s market capitalization.
Positions in Meridian Bioscience Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 83 institutional holders increased their position in Meridian Bioscience Inc. [NASDAQ:VIVO] by around 3,921,899 shares. Additionally, 91 investors decreased positions by around 7,612,102 shares, while 24 investors held positions by with 22,747,088 shares. The mentioned changes placed institutional holdings at 34,281,089 shares, according to the latest SEC report filing. VIVO stock had 33 new institutional investments in for a total of 1,616,579 shares, while 28 institutional investors sold positions of 2,209,414 shares during the same period.