NasdaqGS:VIVO

Stock Analysis Report

Executive Summary

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


Snowflake Analysis

Excellent balance sheet and good value.


Similar Companies

Share Price & News

How has Meridian Bioscience's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VIVO's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

20.5%

VIVO

-0.6%

US Medical Equipment

-2.8%

US Market


1 Year Return

-35.7%

VIVO

-7.7%

US Medical Equipment

-15.9%

US Market

Return vs Industry: VIVO underperformed the US Medical Equipment industry which returned -7.7% over the past year.

Return vs Market: VIVO underperformed the US Market which returned -15.9% over the past year.


Shareholder returns

VIVOIndustryMarket
7 Day20.5%-0.6%-2.8%
30 Day5.1%-12.9%-18.8%
90 Day-12.7%-18.7%-24.0%
1 Year-35.7%-35.7%-7.0%-7.7%-14.2%-15.9%
3 Year-33.0%-37.3%41.4%37.5%9.9%2.8%
5 Year-49.5%-56.5%61.9%45.9%27.2%13.3%

Price Volatility Vs. Market

How volatile is Meridian Bioscience's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Meridian Bioscience undervalued compared to its fair value and its price relative to the market?

24.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: VIVO ($8.47) is trading below our estimate of fair value ($11.16)

Significantly Below Fair Value: VIVO is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: VIVO is good value based on its PE Ratio (18.9x) compared to the Medical Equipment industry average (37.5x).

PE vs Market: VIVO is poor value based on its PE Ratio (18.9x) compared to the US market (12.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VIVO's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: VIVO is good value based on its PB Ratio (1.8x) compared to the US Medical Equipment industry average (2.9x).


Next Steps

Future Growth

How is Meridian Bioscience forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

0.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if VIVO's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if VIVO's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VIVO's revenue (0.9% per year) is forecast to grow slower than the US market (7% per year).

High Growth Revenue: VIVO's revenue (0.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if VIVO's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Meridian Bioscience performed over the past 5 years?

-11.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VIVO has a large one-off loss of $7.4M impacting its December 31 2019 financial results.

Growing Profit Margin: VIVO's current net profit margins (9.7%) are lower than last year (12.1%).


Past Earnings Growth Analysis

Earnings Trend: VIVO's earnings have declined by -11.5% per year over the past 5 years.

Accelerating Growth: VIVO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: VIVO had negative earnings growth (-25.5%) over the past year, making it difficult to compare to the Medical Equipment industry average (1%).


Return on Equity

High ROE: VIVO's Return on Equity (9.7%) is considered low.


Next Steps

Financial Health

How is Meridian Bioscience's financial position?


Financial Position Analysis

Short Term Liabilities: VIVO's short term assets ($152.4M) exceed its short term liabilities ($34.9M).

Long Term Liabilities: VIVO's short term assets ($152.4M) exceed its long term liabilities ($106.0M).


Debt to Equity History and Analysis

Debt Level: VIVO's debt to equity ratio (38.4%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if VIVO's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: VIVO's debt is well covered by operating cash flow (41.7%).

Interest Coverage: VIVO's interest payments on its debt are well covered by EBIT (20.5x coverage).


Balance Sheet

Inventory Level: VIVO has a high level of physical assets or inventory.

Debt Coverage by Assets: VIVO's debt is covered by short term assets (assets are 2x debt).


Next Steps

Dividend

What is Meridian Bioscience's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VIVO's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VIVO's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VIVO's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VIVO's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: VIVO is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VIVO's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Jack Kenny (50yo)

2.5s

Tenure

US$1,316,392

Compensation

Mr. John P. Kenny, also known as Jack, has been the Chief Executive Officer of Meridian Bioscience, Inc. since October 9, 2017 and its Executive Vice President of the Diagnostics Business Unit since March  ...


CEO Compensation Analysis

Compensation vs Market: Jack's total compensation ($USD1.32M) is below average for companies of similar size in the US market ($USD2.26M).

Compensation vs Earnings: Jack's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
John Kenny
President2.5yrsUS$1.32m0.21% $752.3k
Bryan Baldasare
Executive VP0.83yrUS$490.76k0.031% $113.5k
Lourdes Weltzien
Executive Vice President of Life Science Business Unit6.58yrsUS$675.55k0.038% $138.7k
Melissa Lueke
Consultant1.25yrsUS$432.97k0.37% $1.3m
Jeff Pinkston
Director of Corporate Financeno datano datano data
Charles Wood
Vice President of Corporate Strategy0.25yrno datano data
Melissa McCarey
Vice President of Global Human Resourcesno datano datano data
Susan Rolih
Consultant1.42yrsUS$626.75kno data

1.3yrs

Average Tenure

56yo

Average Age

Experienced Management: VIVO's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
John Kenny
President2.5yrsUS$1.32m0.21% $752.3k
John Rice
Independent Director2.67yrsUS$103.00k0.021% $76.1k
John McIlwraith
Independent Director4.67yrsUS$101.00k0.033% $118.4k
David Phillips
Chairman of the Board & Lead Independent Director1.58yrsUS$148.17k0.13% $458.3k
James Anderson
Independent Director10.75yrsUS$114.67k0.040% $143.8k
Felicia Williams
Independent Director1.58yrsUS$106.67k0.0059% $21.4k
Dwight Ellingwood
Independent Director5.75yrsUS$107.00k0.022% $80.9k
Catherine Sazdanoff
Independent Director4.67yrsUS$103.33k0.020% $73.5k

4.0yrs

Average Tenure

65yo

Average Age

Experienced Board: VIVO's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: VIVO insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Meridian Bioscience, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Meridian Bioscience, Inc.
  • Ticker: VIVO
  • Exchange: NasdaqGS
  • Founded: 1976
  • Industry: Health Care Supplies
  • Sector: Healthcare
  • Market Cap: US$362.766m
  • Shares outstanding: 42.83m
  • Website: https://www.meridianbioscience.com

Number of Employees


Location

  • Meridian Bioscience, Inc.
  • 3471 River Hills Drive
  • Cincinnati
  • Ohio
  • 45244
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VIVONasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDJul 1986
MR4DB (Deutsche Boerse AG)YesCommon SharesDEEURJul 1986
0K0KLSE (London Stock Exchange)YesCommon SharesGBUSDJul 1986

Biography

Meridian Bioscience, Inc., a life science company, develops, manufactures, distributes, and sells diagnostic test kits primarily for various gastrointestinal and respiratory infectious diseases, and elevated blood lead levels worldwide. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms and technologies, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; rapid fluorescence-based immunoassay platform under the Curian brand; rapid single-use immunoassays under the ImmunoCard and ImmunoCard STAT! brand names; enzyme-linked immunoassays under the PREMIER brand; and anodic stripping voltammetry, an electrical chemical sensor platform for quantitative determination under the LeadCare and PediaStat brands. This segment’s products are primarily used in the detection of infectious diseases caused by various bacteria, viruses, parasites, and pathogens. Its products consists of gastrointestinal assays, including tests for C. difficile, Enterohemorrhagic E. coli, Campylobacter jejuni, H. pylori, Cryptosporidium, giardia lamblia, and calprotectin; respiratory illness assays, such as tests for Group A Streptococcus, Influenza, M. pneumoniae, Bordetella pertussis, and respiratory syncytial virus; blood chemistry assays; and tests for Group B Streptococcus, Chlamydia trachomatis, Neisseria gonorrhea, Herpes Simplex Virus Type 1 and Type 2, and Malaria. This segment sells its products through direct sales force and independent distributors to acute care hospitals, reference laboratories, outpatient clinics, and physician office laboratories. The Life Science segment offers bulk antigens, antibodies, PCR/qPCR reagents, nucleotides, and bioresearch reagents used by researchers, agri-bio companies, and IVD manufacturing companies. Meridian Bioscience, Inc. was incorporated in 1976 and is headquartered in Cincinnati, Ohio. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/05 04:21
End of Day Share Price2020/04/03 00:00
Earnings2019/12/31
Annual Earnings2019/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.