UPDATE: Canaccord Genuity Downgrades Meridian Biosciences (VIVO) to Hold; Changing Investment Thesis
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Price: $21.66 -0.23%
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
3 Buy, 4 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade VIVO Now!
(Updated - July 27, 2012 1:43 PM EDT)
Canaccord Genuity downgraded Meridian Biosciences (NASDAQ: VIVO) from Buy to Hold. PT lowered from $25 to $18.
Analyst, Jeffrey Frelick, said, "We are downgrading following a FQ3 miss, lower F2012 guidance, and our concerns on modest growth through next year...Although the comp was tough in the quarter, we are more concerned about structural challenges. VIVO’s C. difficile immunoassay business continues to face competitive pressures (mainly Alere (NYSE: ALR)), its sales force struggles defending share, and Illumigene utilization should be more robust with ~900 customers."
2012 Revs/EPS go to $173M/$0.81 from $184M/$0.86; 2013 Revs/EPS go to $185M/$0.85 from $210M/$1.00
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 $16.81 yesterday, with a 52 week range of $14.81-$22.06.
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Canaccord Genuity downgraded Meridian Biosciences (NASDAQ: VIVO) from Buy to Hold. PT lowered from $25 to $18.
Analyst, Jeffrey Frelick, said, "We are downgrading following a FQ3 miss, lower F2012 guidance, and our concerns on modest growth through next year...Although the comp was tough in the quarter, we are more concerned about structural challenges. VIVO’s C. difficile immunoassay business continues to face competitive pressures (mainly Alere (NYSE: ALR)), its sales force struggles defending share, and Illumigene utilization should be more robust with ~900 customers."
2012 Revs/EPS go to $173M/$0.81 from $184M/$0.86; 2013 Revs/EPS go to $185M/$0.85 from $210M/$1.00
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 $16.81 yesterday, with a 52 week range of $14.81-$22.06.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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