Meridian Bioscience Inc. [NASDAQ: VIVO] stock went on a downward path that fall over -15.79% on Monday, amounting to a one-week price decrease of less than -10.88%. The company report on October 20, 2020 that Meridian Bioscience to Hold Fourth Quarter and Full Year 2020 Financial Results Conference Call on November 13, 2020.
Meridian Bioscience, Inc. (NASDAQ: VIVO), a provider of diagnostic testing solutions and life science raw materials, will report fourth quarter and full year 2020 financial results Friday, November 13, 2020.
Jack Kenny, Chief Executive Officer, and Bryan Baldasare, Executive Vice President and Chief Financial Officer, will host a conference call beginning at 10:00 a.m. Eastern Time to discuss the results and answer questions.
Over the last 12 months, VIVO stock rose by 99.11%. The one-year Meridian Bioscience Inc. stock forecast points to a potential upside of 40.08. The average equity rating for VIVO stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $666.95 million, with 42.84 million shares outstanding and 42.36 million shares in the current float. Compared to the average trading volume of 658.68K shares, VIVO stock reached a trading volume of 1169262 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 1.12, with the Price to Sales ratio for VIVO stock in the period of the last 12 months amounting to 2.77. The Price to Book ratio for the last quarter was 2.89, with the Price to Cash per share for the same quarter was set at 1.50. Price to Free Cash Flow for VIVO in the course of the last twelve months was 18.53 with Quick ratio for the last quarter at 2.60.
VIVO Stock Performance Analysis:
Meridian Bioscience Inc. [VIVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.88. With this latest performance, VIVO shares dropped by -16.51% in over the last four-week period, additionally sinking by -10.27% over the last 6 months – not to mention a rise of 99.11% 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 37.77, with the RSI for the last a single of trading hit 31.32, and the three-weeks RSI is set at 40.56 for Meridian Bioscience Inc. [VIVO]. The present Moving Average for the last 50 days of trading for this stock 17.09, while it was recorded at 17.87 for the last single week of trading, and 15.13 for the last 200 days.
Insight into Meridian Bioscience Inc. Fundamentals:
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.
VIVO Stock EPS
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%.
Meridian Bioscience Inc. [VIVO] Insider Position Details
There are presently around $626 million, or 94.60% of VIVO stock, in the hands of institutional investors. The top three institutional holders of VIVO stocks are: BLACKROCK INC. with ownership of 6,729,135, which is approximately 1.039% 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 $71.76 million in VIVO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $47.41 million in VIVO stock with ownership of nearly -4.384% of the company’s market capitalization.
108 institutional holders increased their position in Meridian Bioscience Inc. [NASDAQ:VIVO] by around 8,285,924 shares. Additionally, 85 investors decreased positions by around 5,334,498 shares, while 28 investors held positions by with 26,173,543 shares. The mentioned changes placed institutional holdings at 39,793,965 shares, according to the latest SEC report filing. VIVO stock had 51 new institutional investments in for a total of 4,028,112 shares, while 26 institutional investors sold positions of 744,036 shares during the same period.