Canaccord Genuity analyst Mark Massaro maintained a Hold rating on Meridian Bioscience Inc (VIVO) today and set a price target of $18. The company’s shares opened today at $19.63, close to its 52-week high of $19.84.
“We raise our FY’19 revs on strength in Life Sciences and initiate our 2020 estimates. We reiterate our HOLD rating and raise our PT from $15 to $18 as we roll forward a 4x multiple to our 2020 rev. estimate of $233M, discounted back 2 years at a 10% discount rate. We formerly valued VIVO on ~20x out- year EPS.”
According to TipRanks.com, Massaro is a 5-star analyst with an average return of 17.9% and a 57.3% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Quanterix Corporation, and Orasure Technologies.
The the analyst consensus on Meridian Bioscience Inc is currently a Hold rating.
The company has a one-year high of $19.84 and a one-year low of $13.53. Currently, Meridian Bioscience Inc has an average volume of 197.6K.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VIVO in relation to earlier this year. Earlier this month, McIlwraith John, a Director at VIVO bought 2,000 shares for a total of $25,600.
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Meridian Bioscience, Inc. engages in the development, manufacture, sale, and distribution of diagnostic test kits, purified reagents, and related products. It also offers biopharmaceutical enabling technologies. It operates through the Diagnostics and Life Science segments.