In the latest trading session, Meridian Bioscience (VIVO - Free Report) closed at $24.49, marking a -1.84% move from the previous day. This change lagged the S&P 500's daily gain of 0.77%. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.49%.
Prior to today's trading, shares of the diagnostic test maker had gained 4.88% over the past month. This has outpaced the Medical sector's gain of 4.73% and lagged the S&P 500's gain of 5.03% in that time.
Wall Street will be looking for positivity from VIVO as it approaches its next earnings report date. This is expected to be August 7, 2020. On that day, VIVO is projected to report earnings of $0.24 per share, which would represent year-over-year growth of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $66.12 million, up 36.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.74 per share and revenue of $233.48 million. These totals would mark changes of +8.82% and +16.15%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for VIVO. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.68% lower. VIVO currently has a Zacks Rank of #3 (Hold).
Investors should also note VIVO's current valuation metrics, including its Forward P/E ratio of 33.95. This valuation marks a discount compared to its industry's average Forward P/E of 39.95.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.