Thursday, October 29, 2020

Market cap of Meridian Bioscience Inc. [VIVO] reaches 668.16M – now what?

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Meridian Bioscience Inc. [NASDAQ: VIVO] traded at a high on 09/18/20, posting a 6.80 gain after which it closed the day’ session at $16.65. The company report on September 14, 2020 that Meridian launches a novel SARS-CoV-2 antibody pair designed for developing highly sensitive rapid antigen tests from saliva samples.

Meridian Bioscience, Inc. (NASDAQ: VIVO), a leading provider of diagnostic testing solutions and life science critical raw materials, is pleased to announce the launch of a novel highly sensitive SARS-CoV-2 antibody pair to the trimeric spike protein to accelerate development of COVID-19 assays from patient saliva. Coronavirus-neutralizing antibodies primarily target the trimeric spike (S) glycoprotein on the viral surface that mediates entry into the host cell. This antibody pair binds to recombinant SARS-CoV-2 trimeric spike protein.

Intentionally designed and screened for the development of rapid saliva antigen tests, these antibodies recognize a linear epitope of the SARS-CoV-S1 trimeric protein. The antibody pair is the first-of-its-kind, having sensitivity down to picograms per milliliter as measured by ELISA. Further, the antibody pair is highly specific to the SARS-CoV-2 trimeric spike protein and does not cross react with other coronaviruses, such as SARS-CoV, HCoV-229F, HCoV-HKUI, HCoV-NL63 and HCoV-OC43.

The results of the trading session contributed to over 1356740 shares changing hands. Over the past one week, the price volatility of Meridian Bioscience Inc. stands at 4.98% while the volatility over the past one month is 6.07%.

The market cap for VIVO stock reached $668.16 million, with 42.84 million shares outstanding and 42.34 million shares in the current float. Compared to the average trading volume of 730.03K shares, VIVO reached a trading volume of 1356740 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $26.25 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 1.50. 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 0.90, with the Price to Sales ratio for VIVO stock in the period of the last 12 months amounting to 2.78. The Price to Book ratio for the last quarter was 3.06, with the Price to Cash per share for the same quarter was set at 1.58. Price to Free Cash Flow for VIVO in the course of the last twelve months was 18.56 with Quick ratio for the last quarter at 2.60.

How has VIVO stock performed recently?

Meridian Bioscience Inc. [VIVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.83. With this latest performance, VIVO shares dropped by -4.20% in over the last four-week period, additionally plugging by 125.92% over the last 6 months – not to mention a rise of 74.71% 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 51.35, with the RSI for the last a single of trading hit 64.24, and the three-weeks RSI is set at 48.38 for Meridian Bioscience Inc. [VIVO]. The present Moving Average for the last 50 days of trading for this stock 19.32, while it was recorded at 15.59 for the last single week of trading, and 13.64 for the last 200 days.

Meridian Bioscience Inc. [VIVO]: Deeper insight into the fundamentals

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 2.60 and a Current Ratio set at 4.00.

Earnings analysis for Meridian Bioscience Inc. [VIVO]

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%.

Insider trade positions for Meridian Bioscience Inc. [VIVO]

There are presently around $657 million, or 93.10% of VIVO stock, in the hands of institutional investors. The top three institutional holders of VIVO stocks are: BLACKROCK INC. with ownership of 6,659,919, which is approximately 1.361% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 4,562,111 shares of the stock with an approximate value of $75.96 million in VIVO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $50.18 million in VIVO stock with ownership of nearly -4.384% 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 109 institutional holders increased their position in Meridian Bioscience Inc. [NASDAQ:VIVO] by around 8,918,650 shares. Additionally, 87 investors decreased positions by around 6,348,706 shares, while 23 investors held positions by with 24,179,335 shares. The mentioned changes placed institutional holdings at 39,446,691 shares, according to the latest SEC report filing. VIVO stock had 51 new institutional investments in for a total of 3,552,030 shares, while 29 institutional investors sold positions of 1,671,282 shares during the same period.

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