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What's in Store for Meridian Bioscience's (VIVO) Q3 Earnings?
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Meridian Bioscience, Inc. is slated to release fiscal third-quarter 2020 results on Aug 7, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 187.5%. Further, it beat estimates in each of the trailing four quarters, the average surprise being 89.7%.
Q3 Estimates
For the fiscal third quarter, the Zacks Consensus Estimate for revenues is pegged at $66.1 million, suggesting growth of 36.5% from the prior-year quarter. The consensus estimate for earnings is pegged at 24 cents per share, indicating an improvement of 50% from the year-ago reported figure.
Factors to Note
Meridian Bioscience is likely to have witnessed revenue growth in the fiscal third quarter primarily driven by solid performance in its Life Science business line.
With respect to Diagnostics segment, the company is likely to have experienced higher revenues courtesy of outperformance in its respiratory products. However, decline in its gastrointestinal products might have partially offset the improvement.
During the first quarter, the company launched a new master mix created to bypass the need for an RNA extraction step. This not only reduces time and cost but also eliminates the dependency on the extraction kits, which have an insured supply.
Further, the introduction of a series of recombinant viral antigens, which are required for the manufacturing of COVID-19 antibody assays, has been witnessing an increased demand.
Per the fiscal second-quarter earnings call, Meridian Bioscience collaborated with Syntron Bioresearch to distribute their QuickPac II coronavirus test. This test, which has been designed and manufactured in San Diego, identifies IgG and IgM antibodies to COVID-19 human serum, plasma or blood.
Apart from this, the company’s Diagnostic research and development team has been focused on boosting the already strong product pipeline, which is a major catalyst for growth. For instance, the Curian analyzer and HpSA assay received the FDA clearance in March.
These aforementioned developments are likely to have benefited Meridian Bioscience’s fiscal third-quarter performance.
However, the company has been facing increasing headwinds in its non-respiratory Diagnostics business (in the latter half of March and throughout April) that may have weighed on the to-be-reported quarter’s performance.
Also, the company is likely to have exhibited contraction in gross margin in the to-be-reported quarter due to product mix and continued pricing pressure on its higher-margin Helicobacter pylori (H. pylori) products.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Meridian Bioscience has an Earnings ESP of -14.89%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
GW Pharmaceuticals plc has an Earnings ESP of +22.55% and a Zacks Rank of 3.
Livongo Health, Inc. has an Earnings ESP of +124.99% and a Zacks Rank of 3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
What's in Store for Meridian Bioscience's (VIVO) Q3 Earnings?
Meridian Bioscience, Inc. is slated to release fiscal third-quarter 2020 results on Aug 7, before the opening bell.
In the last reported quarter, the company delivered an earnings surprise of 187.5%. Further, it beat estimates in each of the trailing four quarters, the average surprise being 89.7%.
Q3 Estimates
For the fiscal third quarter, the Zacks Consensus Estimate for revenues is pegged at $66.1 million, suggesting growth of 36.5% from the prior-year quarter. The consensus estimate for earnings is pegged at 24 cents per share, indicating an improvement of 50% from the year-ago reported figure.
Factors to Note
Meridian Bioscience is likely to have witnessed revenue growth in the fiscal third quarter primarily driven by solid performance in its Life Science business line.
With respect to Diagnostics segment, the company is likely to have experienced higher revenues courtesy of outperformance in its respiratory products. However, decline in its gastrointestinal products might have partially offset the improvement.
During the first quarter, the company launched a new master mix created to bypass the need for an RNA extraction step. This not only reduces time and cost but also eliminates the dependency on the extraction kits, which have an insured supply.
Meridian Bioscience Inc. Price and EPS Surprise
Meridian Bioscience Inc. price-eps-surprise | Meridian Bioscience Inc. Quote
Further, the introduction of a series of recombinant viral antigens, which are required for the manufacturing of COVID-19 antibody assays, has been witnessing an increased demand.
Per the fiscal second-quarter earnings call, Meridian Bioscience collaborated with Syntron Bioresearch to distribute their QuickPac II coronavirus test. This test, which has been designed and manufactured in San Diego, identifies IgG and IgM antibodies to COVID-19 human serum, plasma or blood.
Apart from this, the company’s Diagnostic research and development team has been focused on boosting the already strong product pipeline, which is a major catalyst for growth. For instance, the Curian analyzer and HpSA assay received the FDA clearance in March.
These aforementioned developments are likely to have benefited Meridian Bioscience’s fiscal third-quarter performance.
However, the company has been facing increasing headwinds in its non-respiratory Diagnostics business (in the latter half of March and throughout April) that may have weighed on the to-be-reported quarter’s performance.
Also, the company is likely to have exhibited contraction in gross margin in the to-be-reported quarter due to product mix and continued pricing pressure on its higher-margin Helicobacter pylori (H. pylori) products.
What Our Quantitative Model Suggests
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Meridian Bioscience has an Earnings ESP of -14.89%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Integra LifeSciences Holdings Corporation (IART - Free Report) has an Earnings ESP of +20.69% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
GW Pharmaceuticals plc has an Earnings ESP of +22.55% and a Zacks Rank of 3.
Livongo Health, Inc. has an Earnings ESP of +124.99% and a Zacks Rank of 3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>