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Meridian Bioscience Partners MedCaptain, Expands in China
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Cincinnati, OH-based Meridian Bioscience, Inc. , a renowned life sciences company, recently announced that its Magellan Diagnostics business has signed a distribution agreement with China-based MedCaptain Medical Technology, a leading player of infusion management, in-vitro diagnostics, and rehabilitation care. Notably, Magellan Diagnostics was acquired by Meridian Bioscience earlier in March.
Over the past six months, Meridian Biosciences has traded neck on neck with the Zacks categorized Medical Product sub-industry. The stock is currently representing a negative return of 7.19%, wider than the sub-industry’s return of almost 6.05% loss. However, we are encouraged to note that the stock has gained a nominal 0.3% to close at $17.55 following the news indicating a chance of revival in the upcoming period.
Meanwhile, Meridian Bioscience has solid fundamentals both in terms of revenues and adjusted earnings per share (EPS). Notably, since the last five years, the revenues have multiplied at a CAGR of 5.2%, on the back of a solid EPS CAGR of 6.7%. Additionally, a long-term earnings growth rate of 16% and a projected sales growth of almost 5.2 compare favorably with the industry’s 1.8%.
Getting back to the deal, the MedCaptain team will expand Merdian Bioscience’s Magellan Diagnostics’ LeadCare II blood lead testing system in China for quick diagnosis of lead exposure in blood. Notably, LeadCare is the only FDA and CFDA cleared blood lead testing system.
Per the terms of the deal, distribution activity with MedCaptain is scheduled to begin by Jan 2017. Additionally, MedCaptain is expected to invest in educating physicians and consumers in China about the hazards of lead poisoning through seminars and academic conferences.
A China-based study on the lead exposure in bloods by the PURE LIVING Indoor Environmental Solutions reveals that roughly 34% of children in China have blood-lead levels that exceed the World Health Organization standards. Additionally, more than 40% of the tested umbilical cords of newborns in Shanghai were affected by lead blood poisoning. Meridian Bioscience’s latest expansion move seems to be a strategic fit in the wake of the dismal scenario.
Zacks Rank & Key Picks
Meridian Bioscience has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , LHC Group, Inc. and IDEXX Laboratories, Inc. (IDXX - Free Report) . Addus HomeCare and IDEXX Laboratories sport a Zacks Rank #1 (Strong Buy). Meanwhile, LHC Group carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 50.4%.
LHC Group has a long-term expected earnings growth rate of 15%. The company has returned almost 22.2% in the last three months.
IDEXX Laboratories has an expected earnings growth of almost 15%. The company posted a promising year-to-date return of 62.3%.
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Meridian Bioscience Partners MedCaptain, Expands in China
Cincinnati, OH-based Meridian Bioscience, Inc. , a renowned life sciences company, recently announced that its Magellan Diagnostics business has signed a distribution agreement with China-based MedCaptain Medical Technology, a leading player of infusion management, in-vitro diagnostics, and rehabilitation care. Notably, Magellan Diagnostics was acquired by Meridian Bioscience earlier in March.
Over the past six months, Meridian Biosciences has traded neck on neck with the Zacks categorized Medical Product sub-industry. The stock is currently representing a negative return of 7.19%, wider than the sub-industry’s return of almost 6.05% loss. However, we are encouraged to note that the stock has gained a nominal 0.3% to close at $17.55 following the news indicating a chance of revival in the upcoming period.
Meanwhile, Meridian Bioscience has solid fundamentals both in terms of revenues and adjusted earnings per share (EPS). Notably, since the last five years, the revenues have multiplied at a CAGR of 5.2%, on the back of a solid EPS CAGR of 6.7%. Additionally, a long-term earnings growth rate of 16% and a projected sales growth of almost 5.2 compare favorably with the industry’s 1.8%.
Getting back to the deal, the MedCaptain team will expand Merdian Bioscience’s Magellan Diagnostics’ LeadCare II blood lead testing system in China for quick diagnosis of lead exposure in blood. Notably, LeadCare is the only FDA and CFDA cleared blood lead testing system.
Per the terms of the deal, distribution activity with MedCaptain is scheduled to begin by Jan 2017. Additionally, MedCaptain is expected to invest in educating physicians and consumers in China about the hazards of lead poisoning through seminars and academic conferences.
MERIDIAN BIOSCI Price
MERIDIAN BIOSCI Price | MERIDIAN BIOSCI Quote
Our Take
A China-based study on the lead exposure in bloods by the PURE LIVING Indoor Environmental Solutions reveals that roughly 34% of children in China have blood-lead levels that exceed the World Health Organization standards. Additionally, more than 40% of the tested umbilical cords of newborns in Shanghai were affected by lead blood poisoning. Meridian Bioscience’s latest expansion move seems to be a strategic fit in the wake of the dismal scenario.
Zacks Rank & Key Picks
Meridian Bioscience has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , LHC Group, Inc. and IDEXX Laboratories, Inc. (IDXX - Free Report) . Addus HomeCare and IDEXX Laboratories sport a Zacks Rank #1 (Strong Buy). Meanwhile, LHC Group carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 50.4%.
LHC Group has a long-term expected earnings growth rate of 15%. The company has returned almost 22.2% in the last three months.
IDEXX Laboratories has an expected earnings growth of almost 15%. The company posted a promising year-to-date return of 62.3%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access.Click here for Zacks' private trades >>