Meridian Bioscience Is Not Your Average Life Science Company

Doctor explaining through video call in clinic — Morsa Images/DigitalVision via Getty Images

The Chart of the Day belongs to the diagnostics and Research company Meridian Bioscience (VIVO). I found the stock by sorting Barchart’s Top Stocks to Own list first by the most frequent number of new highs in the last month, then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 6/6 the stock gained 12.18%.

VIVO Meridian Bioscience — VIVO vs Daily Moving Averages

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. The company operates through Diagnostics and Life Science segments. The Diagnostics segment offers testing platforms, including real-time PCR amplification under the Revogene brand; isothermal DNA amplification under the Alethia brand; lateral flow immunoassay using fluorescent chemistry under the Curian brand; rapid immunoassay under the ImmunoCard and ImmunoCard STAT! brands; enzyme-linked immunoassays under the PREMIER brand; anodic stripping voltammetry under the LeadCare brands; and urea breath testing for H. pylori under the BreathID and BreathTek brand. This segment also offers respiratory illness assays, such as tests Group A strep, mycoplasma pneumonia, influenza, and pertussis; and blood chemistry products for LeadCare test kits for the detection of lead in blood. It sells 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 in vitro diagnostic manufacturers, as well as researchers in immunological and molecular tests for human, animal, plant, and environmental applications. Meridian Bioscience, Inc. was incorporated in 1976 and is headquartered in Cincinnati, Ohio.

Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

100% technical buy signals but increasing
57.90+ Weighted Alpha
42.69% gain in the last year
Trend Spotter buy signal
Above its 20, 50 and 100-day moving averages
8 new highs and up 15.79% in the last month
Relative Strength Index 64.47%
Technical support level at 30.38
Recently traded at $31.35 with 50-day moving average of 27.14

Fundamental factors:

Market Cap $1.35 billion
P/E 20.84
Revenue expected to grow 7.30% this year
Earnings estimated to compound at an annual rate of 17.00% for the next 5 years

Analysts and Investor Sentiment – I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analysts have 2 opinions on the stock
Analysts gives average price targets at $30.00
The individual investors following the stock on Motley Fool voted 442 to 15 for the stock to beat the market with the more experienced investors voting 54 to 4 for the same result
4,910 investors are monitoring the stock on Seeking Alpha