Wedbush Upgrades Meridian Biosciences (VIVO) to Neutral Post Q3 Whiff & Selloff

July 31, 2012 7:32 AM EDT Send to a Friend
Get Alerts VIVO Hot Sheet
Price: $17.44 -1.64%

Rating Summary:
    2 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 10
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Wedbush upgraded Meridian Biosciences (NASDAQ: VIVO) from Underperform to Neutral with a price target of $17.00.

Analyst, Zarak Khurshid, said, "3Q12 results miss consensus revenue and our Street-low estimate badly...Slower C.diff, H.pylori, and Foodborne sales drove the miss...Illumigene not too bad, in our view. System placements just below our
estimates, while utilization appears fairly stable...GMs very impressive. Up 290 bps q/q despite sales falloff. Opex leaner too...Upgrading to NEUTRAL on more reasonable valuation, lowered guidance and improving profitability."

Lowers FY12 EPS estimate from $0.81 to $0.80, but raises FY13 from $0.90 to $0.94.

For an analyst ratings summary and ratings history on Meridian Biosciences click here. For more ratings news on Meridian Biosciences click here.

Shares of Meridian Biosciences closed at $16.70 yesterday.


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