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Meridian Bioscience, Inc.NasdaqGS:VIVO Voorraadrapport

Marktkapitalisatie US$1.5b
Prijs aandeel
n/a
US$34
n.v.t.intrinsieke korting
1Y54.3%
7D0.06%
1D
Portefeuillewaarde
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Meridian Bioscience, Inc.

NasdaqGS:VIVO Voorraadrapport

Marktkapitalisatie: 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 (VIVO) Aandelenoverzicht

Meridian Bioscience, Inc., a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. Meer informatie

Beloningen

Verhandeld tegen 25.5% onder onze schatting van de reële waarde

Risicoanalyse

Grote eenmalige posten die de financiële resultaten beïnvloeden

Winstmarges (12.7%) zijn lager dan vorig jaar (22.5%)


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Meridian Bioscience, Inc. Concurrenten

Prijsgeschiedenis en prestaties

Overzicht van hoogtepunten, dieptepunten en veranderingen in de aandelenkoersen voor Meridian Bioscience
Historische aandelenkoersen
Huidige aandelenkoersUS$33.97
52 Week HoogtepuntUS$34.38
52 Week LaagUS$21.09
Bèta0.23
1 maand verandering2.29%
3 maanden verandering6.02%
1 Jaar Verandering54.34%
3 jaar verandering295.23%
5 jaar verandering128.75%
Verandering sinds IPO6,030.20%

Recent nieuws en updates

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.
Analyseartikel • 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.
Analyseartikel • 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.
Analyseartikel • 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...
Analyseartikel • 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.
Analyseartikel • 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...
Analyseartikel • 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...
Analyseartikel • 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...
Analyseartikel • 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...
Analyseartikel • 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...
Analyseartikel • 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...

Rendement voor aandeelhouders

VIVOUS Medical EquipmentUS Markt
7D0.06%-1.3%0.3%
1Y54.3%-22.9%26.2%

Rendement versus industrie: VIVO overtrof de US Medical Equipment industrie, die het afgelopen jaar een rendement -22.9 % opleverde.

Rendement versus markt: VIVO overtrof de US markt, die het afgelopen jaar een rendement opleverde van 26.2 %.

Prijsvolatiliteit

Is VIVO's price volatile compared to industry and market?
VIVO volatility
VIVO Average Weekly Movement2.3%
Medical Equipment Industry Average Movement8.7%
Market Average Movement7.2%
10% most volatile stocks in US Market16.8%
10% least volatile stocks in US Market3.0%

Stabiele aandelenkoers: VIVO heeft de afgelopen 3 maanden geen significante prijsvolatiliteit gekend vergeleken met de US markt.

Volatiliteit in de loop van de tijd: De wekelijkse volatiliteit ( 2% ) van VIVO is het afgelopen jaar stabiel geweest.

Over het bedrijf

OpgerichtWerknemersCEOWebsite
1976704Jack Kennywww.meridianbioscience.com

Meridian Bioscience, Inc. Samenvatting

Hoe verhouden de winst en inkomsten van Meridian Bioscience zich tot de beurswaarde?
VIVO fundamentele statistieken
MarktkapitalisatieUS$1.49b
Inkomsten(TTM)US$42.46m
Inkomsten(TTM)US$333.02m
35.2x
Koers/Winstverhouding
4.5x
P/S-verhouding

Is VIVO overgewaardeerd?

Zie Reële waarde en waarderingsanalyse

Inkomsten en omzet

Belangrijkste winstgevendheidsstatistieken uit het laatste winstverslag (TTM)
VIVO resultatenrekening (TTM)
InkomstenUS$333.02m
Kosten van inkomstenUS$144.66m
BrutowinstUS$188.36m
Overige uitgavenUS$145.90m
InkomstenUS$42.46m

Laatst gerapporteerde inkomsten

Sep 30, 2022

Volgende inkomensdatum

n.v.t.

Winst per aandeel (EPS)0.96
Brutomarge56.56%
Nettowinstmarge12.75%
Schuld/Eigen Vermogen Verhouding6.8%

Hoe presteerde VIVO op de lange termijn?

Bekijk historische prestaties en vergelijking

Bedrijfsanalyse en status van financiële gegevens

GegevensLaatst bijgewerkt (UTC-tijd)
Bedrijfsanalyse2023/02/01 16:19
Aandelenkoers aan het einde van de dag2023/01/30 00:00
Inkomsten2022/09/30
Jaarlijkse inkomsten2022/09/30

Gegevensbronnen

De gegevens die gebruikt zijn in onze bedrijfsanalyse zijn afkomstig van S&P Global Market Intelligence LLC. De volgende gegevens worden gebruikt in ons analysemodel om dit rapport te genereren. De gegevens zijn genormaliseerd, waardoor er een vertraging kan optreden voordat de bron beschikbaar is.

PakketGegevensTijdframeVoorbeeld Amerikaanse bron *
Financiële gegevens bedrijf10 jaar
  • Resultatenrekening
  • Kasstroomoverzicht
  • Balans
Consensus schattingen analisten+3 jaar
  • Financiële prognoses
  • Koersdoelen analisten
Marktprijzen30 jaar
  • Aandelenprijzen
  • Dividenden, splitsingen en acties
Eigendom10 jaar
  • Top aandeelhouders
  • Handel met voorkennis
Beheer10 jaar
  • Leiderschapsteam
  • Raad van bestuur
Belangrijkste ontwikkelingen10 jaar
  • Bedrijfsaankondigingen

* Voorbeeld voor effecten uit de VS, voor niet-Amerikaanse effecten worden gelijkwaardige formulieren en bronnen gebruikt.

Tenzij anders vermeld zijn alle financiële gegevens gebaseerd op een jaarperiode, maar worden ze elk kwartaal bijgewerkt. Dit staat bekend als Trailing Twelve Month (TTM) of Last Twelve Month (LTM) gegevens. Meer informatie.

Analysemodel en Snowflake

Details van het analysemodel dat is gebruikt om dit rapport te genereren zijn beschikbaar op onze Github-pagina. We hebben ook handleidingen over hoe je onze rapporten kunt gebruiken en tutorials op YouTube.

Leer meer over het team van wereldklasse dat het Simply Wall St-analysemodel heeft ontworpen en gebouwd.

Industrie en sector

Onze industrie- en sectormetrics worden elke 6 uur berekend door Simply Wall St, details van ons proces zijn beschikbaar op Github.

Bronnen van analisten

Meridian Bioscience, Inc. wordt gevolgd door 12 analisten. 2 van deze analisten hebben de schattingen van de omzet of winst ingediend die zijn gebruikt als input voor ons rapport. Inzendingen van analisten worden de hele dag door bijgewerkt.

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