Meridian Bioscience, Inc. (NASDAQ:VIVO) is -0.21 points lower today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has plummeted by nearly -2.66% to $7.86 from its previous close of $8.07. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 174627 contracts so far this session. VIVO shares had a relatively better volume day versus average trading capacity of 517.54 thousand shares, but with a 42.38 million float and a -3.81% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for VIVO stock indicates that the average analyst price target is $9 per share. This means the stock has a potential increase of 14.5% from where the VIVO share price has been trading recently.
During the recent trading session for Meridian Bioscience, Inc. (NASDAQ:VIVO), the company witnessed their stock rise $0.13 over a week and tumble down $-2.07 from the price 20 days ago. When compared to their established 52-week high of $17.71, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/04/19. The recent low of $7.62 stood for a -55.65% since 10/02/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.26 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Meridian Bioscience, Inc., the two-week RSI stands at 35.4. This figure suggests that VIVO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current VIVO readings is similarly very revealing as it has a stochastic reading of 8.67% at this stage. This figure means that VIVO share price today is being overbought.
Technical chart claims that Meridian Bioscience, Inc. (VIVO) would settle between $8.24/share to $8.41/share level. However, if the stock price goes below the $7.96 mark, then the market for Meridian Bioscience, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.85 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray raised their recommendation on shares of VIVO from Underweight to Neutral in their opinion released on May 01. Canaccord Genuity analysts have lowered their rating of Meridian Bioscience, Inc. (NASDAQ:VIVO) stock from Hold to Sell in a separate flash note issued to investors on April 03. Analysts at Canaccord Genuity are sticking to their Hold stance. However, on January 26, they lifted price target for these shares to $16 from $14.
VIVO equity has an average rating of 3.5, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Meridian Bioscience, Inc. (NASDAQ:VIVO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, VIVO stock price is currently trading at 20.17X forward 12-month Consensus EPS estimates, and its P/E ratio is 17.9 while for the average stock in the same group, the multiple is 49.6. Meridian Bioscience, Inc. current P/B ratio of 1.8 means it is trading at a discount against its industry’s 5.