Meridian Bioscience, Inc.

Informe acción NasdaqGS:VIVO

Capitalización de mercado: US$1.5b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Meridian Bioscience Crecimiento futuro

Future controles de criterios 0/6

Actualmente no disponemos de suficiente cobertura de analistas para prever el crecimiento y los ingresos de Meridian Bioscience.

Información clave

n/a

Tasa de crecimiento de los beneficios

n/a

Tasa de crecimiento del BPA

Crecimiento de los beneficios de Medical Equipment16.1%
Tasa de crecimiento de los ingresosn/a
Rentabilidad financiera futuran/a
Cobertura de analistas

Low

Última actualizaciónn/a

Actualizaciones recientes sobre el crecimiento futuro

Recent updates

Seeking Alpha • Aug 05

Meridian Bioscience Non-GAAP EPS of $0.16 misses by $0.01, revenue of $67.8M beats by $1M

Meridian Bioscience press release (NASDAQ:VIVO): Q3 Non-GAAP EPS of $0.16 misses by $0.01. Revenue of $67.8M (+6.8% Y/Y) beats by $1M. Due to the pending transaction, Meridian will no longer hold conference calls to discuss its quarterly financial results and withdraws its previously issued financial guidance for fiscal year 2022, last updated on May 6, 2022.
Seeking Alpha • Jul 26

Meridian Bioscience: High-Probability Merger Arbitrage

This is a mid-cap going private transaction offering a 9% annualized return. US diagnostic test kit maker Meridian Bioscience is being taken private by a South Korean buyer consortium. I expect the transaction to close given strong strategic rationale while shareholder and regulatory approvals seem likely. The main risk is the DOJ’s ongoing investigation into the company’s blood lead tests. This is a recently announced going private transaction which seems highly likely to close. The spread of 1% seemed to reflect this upon the announcement but has since widened despite no transaction-related news and now stands at 4%. The merger is expected to close in Q4'22 which would imply a ~9% annualized return. A South Korean buyer consortium is acquiring US diagnostic test kit maker Meridian Bioscience (VIVO). The offer is $34 per share in cash or a total of ~$1.53bn. After the acquisition, two buyers - South Korean peer SD Biosensor (SDB) and a PE firm SJL Partners - will own 60% and 40% of the company. Overall, the merger makes strategic sense as SDB operates in the same industry and will be able to expand its broad product portfolio to the US. The announcement comes after a strategic review. VIVO shareholder and regulatory approvals will be needed, however these should not be a hurdle: VIVO's institutional shareholders (>50% stake) have a low cost-basis. Moreover, the transaction values VIVO at ~18x EV/TTM EBIT - close to its significantly larger peers, such as Qiagen (~19x), PerkinElmer (~20x) and Abbott Laboratories (~22x). Antitrust approvals are unlikely to be an issue - the companies have small market shares in all geographies. Meanwhile, CFIUS approval seems like a formality. The main risk here is the DOJ's ongoing investigation into the company's blood lead test products since 2018 due to their allegedly misleading test results. The merger announcement explicitly mentions "the absence of specified materially adverse outcomes" in the investigation as one of the closing conditions. The DOJ has issued several subpoenas to the company and currently the investigation is ongoing. No timeline has been provided. A positive is that VIVO has complied with all of FDA's requests and inspections on its blood lead test products so far. In August 2021, VIVO was issued a close-out letter from the agency, meaning that the company has addressed issues identified in the initial warning letter sent by the FDA in 2017. Yahoo Finance Business & Strategic Rationale VIVO is a life science company operating in the in vitro diagnostics (IVD) market. IVD are tests on samples of blood or tissue from the human body. The company produces 1) diagnostic test kits (Diagnostics segment) and 2) reagents used by other diagnostic test manufacturers (Life Science segment). Diagnostics historically contributed a higher revenue share (68% in 2019) but have seen a decline (40% in 2021) as Life Science revenues increased on the back of high demand for COVID-19 related reagents. Likewise, SDB operates in the IVD industry and has the same operating segments. Both companies have overlapping product portfolios, which include diagnostic test kits/reagents for respiratory, gastrointestinal and cardiovascular diseases, among others. In particular, immunoassay reagent offerings (i.e. antibody and antigen as opposed to molecular) are highly complementary. An important distinction here, however, is that VIVO generates ~45% of its revenues in the US compared to only ~7% of SDB's sales coming from North America. The buyer has stated that its product portfolio expansion to the US market is one of the underlying reasons behind the merger. In 2020, SDB formed a distribution agreement with Roche (RHHBY) and several of its COVID-19 test kits have been launched in the US. Now, the company is reportedly seeking US authorization for its other offerings, such as Standard M10 rapid COVID-19 test kits. In this context, the transaction seems highly synergistic given VIVO's distribution network and knowledge of domestic regulations. After the acquisition announcement, SDB hinted at building a new manufacturing plant in the US which points to the company increasing its distribution in the US. SDB has also highlighted its mass-production know-how as a synergy - reasonable given the company's size (~$3.4bn in market cap) and the fact that SDB is the world's largest COVID-19 test kit seller. Another benefit of the buyout - expansion of the molecular reagent/assay segment. VIVO's molecular offering segment has been generating a much higher share of total revenues - ~47% versus ~6% for SDB in 2021. Here it is important to note that this segment has higher margins than immunological/other non-molecular reagents/assays. Given SDB's scale manufacturing expertise, the company might very well pursue an expansion of VIVO's molecular testing segment. In its 2021 annual report, SDB also stresses that molecular diagnosis has high growth potential (8.4% CAGR from 2018 to 2023). Shareholders I see several reasons why shareholders will approve the transaction: Two of the largest shareholders - Blackrock and Vanguard (28% combined stake) - have accumulated most of their shares between 2010 and 2019. By my estimate, they will cash out on at least a 50% return if the transaction closes. Similarly, other equity holders - Earnest Partners, Impactive Capital, Royce & Associates and Renaissance Technologies - are also sitting on returns in the ballpark of 50%. Combined, these institutions have a 56% ownership stake. VIVO stock has rallied over the last year - 66% increase year-on-year before the merger announcement. This contrasts with broader sector performance - the Nasdaq Biotechnology Index (NBI) fell 23% over the same period. In my view, given the macroeconomic and industry environment, institutional shareholders will be willing to de-risk their investment in VIVO. Moreover, COVID has been a huge tailwind for the company - revenues rose 58% from 2019 to 2021 compared to low-mid single digits annual growth before. Now that the demand for COVID-related reagents and test kits is fading, shareholders could see this as a good exit opportunity. DOJ's ongoing investigation only adds to this incentive. Relative valuation (see below) shows that the transaction values VIVO in line with larger competitors. Regulatory Outlook CFIUS approval seems likely - VIVO and SDB's technologies/products are not unique or pose any national security concern. For reference, last year CFIUS approved Intel's NAND $9bn business sale to the South Korean memory chip supplier SK Hynix which is one of the largest semiconductor companies in the world. As the semiconductor industry appears to be under higher scrutiny than the IVD market, I expect CFIUS approval to be granted. Antitrust approvals are also not likely to present any issues - both VIVO and SDB have low market shares in all the geographies they operate in (see below). Admittedly, SDB is the world's largest COVID-19 test kit seller, however, VIVO has much lower revenues in this segment. Overall, the IVD market is dominated by large players - four giants Roche, Abbott (ABT), Danaher (DHR) and Siemens (SIEGY) controlled ~50% of the industry as of 2017. Company market shares in primary geographies (based on total IVD market revenues for 2021): Region VIVO SDB Total Market Revenues ($bn) North America 0.4% 0.3% 36.7 United States 0.4% 33.4 Europe 0.4% 5.2% 25.0 Asia 0.2% 2.8% 29.0 South Korea 0.2% 3.3% 4.5 Total 0.3% 2.2% 99.9 Sources: Company filings, Statista. Valuation VIVO identifies much larger companies - Becton, Dickinson (BDX), Cepheid (owned by DHR), Abbott and Thermo Fisher (TMO) - as its major competitors. This makes direct comparison somewhat complicated. That said, on an EV/EBIT basis the company seems to be valued fairly compared to most peers considering the size discrepancy.
Seeking Alpha • Jul 07

Meridian Bioscience downgraded at William Blair on $1.53B acquisition

In light of its acquisition by South Korea's SD Biosensor and SJL Partners for $1.53B, William Blair has downgraded Meridian Bioscience (NASDAQ:VIVO) to market perform. The consortium first made acquisition overtures on March 17 when the stock was trading at $25.67. The stock closed at $33.55 on Wednesday and the acquisition price values Meridian (VIVO) at $44 per share. Year to date, shares are up more than 60%. Analyst Brian Weinstein noted that Meridian (VIVO) has a clean balance sheet, generates cash flow, and has diagnostics growth drivers outside of COVID-19. The acquisition still needs to be approved by shareholders. In addition, there is an ongoing Department of Justice investigation into Meridian related to the accuracy of lead testing products made by Magellan Biosciences, which Meridian acquired in 2016.
Artículo de análisis • Jun 27

Meridian Bioscience (NASDAQ:VIVO) Has A Pretty Healthy Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Jun 26

Meridian Bioscience: Correctly Valued

Meridian saw a huge jump in earnings once the pandemic set in. Investors may worry that as the pandemic eases away, those earnings will also fall. I believe that worry is unfounded.
Artículo de análisis • Jun 09

Many Would Be Envious Of Meridian Bioscience's (NASDAQ:VIVO) Excellent Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'll want to see a...
Seeking Alpha • Mar 14

Meridian Bioscience: Deceptively Priced

At first glance, shares of Meridian Bioscience look quite affordable, especially considering recent growth. But investors need to pay attention to the likely temporary improvement caused by the COVID-19 pandemic. Adjusting for this, the company looks much more expensive than it does initially and likely offers limited upside as a result.
Artículo de análisis • Feb 03

Meridian Bioscience (NASDAQ:VIVO) Looks To Prolong Its Impressive Returns

What are the early trends we should look for to identify a stock that could multiply in value over the long term...
Artículo de análisis • Jul 19

These 4 Measures Indicate That Meridian Bioscience (NASDAQ:VIVO) Is Using Debt Safely

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Jul 08

If The COVID-19 Delta Variant Spreads This Fall, Meridian Is Still A Buy

A rapid increase in Delta variant spread in the world may be good news for Meridian's testing supply business. Meridian valuations are discounting the end of the U.S. pandemic this summer, which is far from certain going into the autumn. A sizable short interest position has been built in the first half of 2021, betting on a quick end to the pandemic globally. Delta's ability to wreak havoc in the lives of unvaccinated individuals and society at large is little understood in early July.
Artículo de análisis • May 10

Meridian Bioscience (NASDAQ:VIVO) Might Become A Compounding Machine

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Artículo de análisis • Mar 31

Meridian Bioscience (NASDAQ:VIVO) Seems To Use Debt Rather Sparingly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Artículo de análisis • Mar 11

Have Insiders Been Buying Meridian Bioscience, Inc. (NASDAQ:VIVO) Shares?

It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...
Artículo de análisis • Feb 24

Investors Who Bought Meridian Bioscience (NASDAQ:VIVO) Shares A Year Ago Are Now Up 185%

It's been a soft week for Meridian Bioscience, Inc. ( NASDAQ:VIVO ) shares, which are down 19%. But that doesn't change...
Artículo de análisis • Feb 09

Need To Know: Analysts Are Much More Bullish On Meridian Bioscience, Inc. (NASDAQ:VIVO) Revenues

Celebrations may be in order for Meridian Bioscience, Inc. ( NASDAQ:VIVO ) shareholders, with the analysts delivering a...
Artículo de análisis • Jan 27

Should We Be Excited About The Trends Of Returns At Meridian Bioscience (NASDAQ:VIVO)?

What trends should we look for it we want to identify stocks that can multiply in value over the long term? Firstly...

Previsiones de crecimiento de beneficios e ingresos

NasdaqGS:VIVO - Estimaciones futuras de los analistas y datos financieros pasados (USD Millions)
FechaIngresosBeneficiosFlujo de caja libreFlujo de caja operativoNúm. de analistas medio
9/30/202328835N/AN/A2
9/30/2022333427482N/A
6/30/2022344438895N/A
3/31/2022339628291N/A
12/31/2021313605977N/A
9/30/2021318714967N/A
6/30/2021306715169N/A
3/31/2021327876074N/A
12/31/2020299706368N/A
9/30/2020254464548N/A
6/30/2020240443639N/A
3/31/2020204212831N/A
12/31/2019197192932N/A
9/30/2019201243236N/A
6/30/2019203263640N/A
3/31/2019207273842N/A
12/31/2018213263539N/A
9/30/2018214243135N/A
6/30/2018210242832N/A
3/31/2018209182630N/A
12/31/2017206222934N/A
9/30/2017201223741N/A
6/30/2017198213944N/A
3/31/2017199303944N/A
12/31/2016195303438N/A
9/30/2016196323337N/A
6/30/201619535N/A38N/A
3/31/201619236N/A41N/A

Previsiones de crecimiento futuro de los analistas

Ingresos vs. Tasa de ahorro: Datos insuficientes para determinar si el crecimiento previsto de los beneficios de VIVO es superior a la tasa de ahorro (2%).

Beneficios vs. Mercado: Datos insuficientes para determinar si se prevé que los beneficios de VIVO crezcan más rápidamente que el mercado US

Beneficios de alto crecimiento: Datos insuficientes para determinar si se espera que los beneficios de VIVO crezcan significativamente en los próximos 3 años.

Ingresos vs. Mercado: No hay datos suficientes para determinar si se prevé que los ingresos de VIVO crezcan más rápidamente que el mercado de US.

Ingresos de alto crecimiento: No hay datos suficientes para determinar si se prevé que los ingresos de VIVO crezcan a un ritmo superior a 20% al año.

Previsiones de crecimiento de los beneficios por acción

Rentabilidad financiera futura

ROE futura: Datos insuficientes para determinar si la rentabilidad financiera de VIVO se prevé que sea elevada dentro de 3 años.

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Análisis de la empresa y estado de los datos financieros

DatosÚltima actualización (huso horario UTC)
Análisis de la empresa2023/02/01 09:41
Precio de las acciones al final del día2023/01/30 00:00
Beneficios2022/09/30
Ingresos anuales2022/09/30

Fuentes de datos

Los datos utilizados en nuestro análisis de empresas proceden de S&P Global Market Intelligence LLC. Los siguientes datos se utilizan en nuestro modelo de análisis para generar este informe. Los datos están normalizados, lo que puede introducir un retraso desde que la fuente está disponible.

PaqueteDatosMarco temporalEjemplo Fuente EE.UU. *
Finanzas de la empresa10 años
  • Cuenta de resultados
  • Estado de tesorería
  • Balance
Estimaciones del consenso de analistas+3 años
  • Previsiones financieras
  • Objetivos de precios de los analistas
Precios de mercado30 años
  • Precios de las acciones
  • Dividendos, escisiones y acciones
Propiedad10 años
  • Accionistas principales
  • Información privilegiada
Gestión10 años
  • Equipo directivo
  • Consejo de Administración
Principales avances10 años
  • Anuncios de empresas

* Ejemplo para valores de EE.UU., para no EE.UU. se utilizan formularios y fuentes normativas equivalentes.

A menos que se especifique lo contrario, todos los datos financieros se basan en un periodo anual, pero se actualizan trimestralmente. Esto se conoce como datos de los últimos doce meses (TTM) o de los últimos doce meses (LTM). Más información.

Modelo de análisis y copo de nieve

Los detalles del modelo de análisis utilizado para generar este informe están disponibles en nuestra página de Github, también tenemos guías sobre cómo utilizar nuestros informes y tutoriales en Youtube.

Conozca al equipo de talla mundial que diseñó y construyó el modelo de análisis Simply Wall St.

Métricas industriales y sectoriales

Simply Wall St calcula cada 6 horas nuestras métricas sectoriales y de sección. Los detalles de nuestro proceso están disponibles en Github.

Fuentes analistas

Meridian Bioscience, Inc. está cubierta por 12 analistas. 2 de esos analistas presentaron las estimaciones de ingresos o ganancias utilizadas como datos para nuestro informe. Las estimaciones de los analistas se actualizan a lo largo del día.

AnalistaInstitución
Catherine Ramsey SchulteBaird
Mark MassaroCanaccord Genuity
David WestenbergCL King & Associates, Inc.