Meridian Bioscience Inc. [VIVO] moved down -12.41: Why It’s Important

Meridian Bioscience Inc. [NASDAQ: VIVO] closed the trading session at $26.12 on 02/16/21. The day’s price range saw the stock hit a low of $25.32, while the highest price level was $30.57. The company report on February 16, 2021 that Meridian Bioscience Provides an Update on the Revogene® SARS-CoV-2 EUA Submission.

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Meridian Bioscience, Inc. (NASDAQ: VIVO), a provider of diagnostic testing solutions and life science raw materials, provided an update on its application for Emergency Use Authorization (EUA) with the U.S. Food and Drug Administration (FDA) for the SARS-CoV-2 molecular diagnostic test on its Revogene® platform.

In its ongoing discussion with the FDA, late in the day on Friday, February 12, 2021, the Company received further correspondence requesting additional information on the SARS-CoV-2 molecular diagnostic test on its Revogene® platform. Later, the Company plans to submit a response with additional information to the FDA for its review. The Company has elected to place shipments of the SARS-CoV-2 test kits on hold while it continues to work with the FDA.

The stocks have a year to date performance of 39.75 percent and weekly performance of -9.21 percent. The stock has been moved at 43.99 percent over the last six months. The stock has performed 18.03 percent around the most recent 30 days and changed 61.53 percent over the most recent 3-months.

If compared to the average trading volume of 624.73K shares, VIVO reached to a volume of 1742892 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $35.00 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 2.00, with the Price to Sales ratio for VIVO stock in the period of the last 12 months amounting to 4.45. The Price to Book ratio for the last quarter was 4.53, with the Price to Cash per share for the same quarter was set at 1.24. Price to Free Cash Flow for VIVO in the course of the last twelve months was 31.12 with Quick ratio for the last quarter at 1.90.

VIVO stock trade performance evaluation

Meridian Bioscience Inc. [VIVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.21. With this latest performance, VIVO shares gained by 18.03% in over the last four-week period, additionally plugging by 43.99% over the last 6 months – not to mention a rise of 230.63% 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 55.83, with the RSI for the last a single of trading hit 51.95, and the three-weeks RSI is set at 57.44 for Meridian Bioscience Inc. [VIVO]. The present Moving Average for the last 50 days of trading for this stock 22.02, while it was recorded at 28.23 for the last single week of trading, and 19.24 for the last 200 days.

Meridian Bioscience Inc. [VIVO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Meridian Bioscience Inc. [VIVO] shares currently have an operating margin of +24.32 and a Gross Margin at +61.60. Meridian Bioscience Inc.’s Net Margin is presently recorded at +18.21.

Return on Total Capital for VIVO is now 20.92, given the latest momentum, and Return on Invested Capital for the company is 15.71. Return on Equity for this stock inclined to 21.06, with Return on Assets sitting at 12.64. When it comes to the capital structure of this company, Meridian Bioscience Inc. [VIVO] has a Total Debt to Total Equity ratio set at 30.40. Additionally, VIVO Total Debt to Total Capital is recorded at 23.32, with Total Debt to Total Assets ending up at 18.58. Long-Term Debt to Equity for the company is recorded at 29.68, with the Long-Term Debt to Total Capital now at 22.76.

Reflecting on the efficiency of the workforce at the company, Meridian Bioscience Inc. [VIVO] managed to generate an average of $61,581 per employee. Receivables Turnover for the company is 6.84 with a Total Asset Turnover recorded at a value of 0.69.Meridian Bioscience Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 3.10.

Earnings per share (EPS) analysis for Meridian Bioscience Inc. [VIVO] stock

With the latest financial reports released by the company, Meridian Bioscience Inc. posted 0.23/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 187.50%. 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 Ownership positions

There are presently around $1,024 million, or 95.50% of VIVO stock, in the hands of institutional investors. The top three institutional holders of VIVO stocks are: BLACKROCK INC. with ownership of 6,847,747, which is approximately 1.763% of the company’s market cap and around 1.40% of the total institutional ownership; VANGUARD GROUP INC, holding 4,757,715 shares of the stock with an approximate value of $124.27 million in VIVO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $60.44 million in VIVO stock with ownership of nearly -15.67% of the company’s market capitalization.

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Positions in Meridian Bioscience Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 98 institutional holders increased their position in Meridian Bioscience Inc. [NASDAQ:VIVO] by around 4,378,029 shares. Additionally, 89 investors decreased positions by around 3,763,973 shares, while 35 investors held positions by with 31,078,142 shares. The mentioned changes placed institutional holdings at 39,220,144 shares, according to the latest SEC report filing. VIVO stock had 29 new institutional investments in for a total of 709,035 shares, while 29 institutional investors sold positions of 1,349,251 shares during the same period.

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