(VIVO) - Both analysts covering the stock have raised their estimates for next year

Meridian Bioscience has exceeded analyst expectations for five consecutive quarters. Year-over-year growth has been consistently in the double digits over the past few years. Both analysts covering the stock have raised their estimates for next year. Over the past 60 days, next year's numbers have increased 7.9% to 82 cents per share. Full Analysis Meridian Bioscience, Inc. (VIVO) operates as an integrated research, development, manufacturing, marketing, and sales organization in the field of life science. It develops, manufactures, and distributes diagnostic test kits primarily for respiratory, gastrointestinal, viral, and parasitic infectious diseases. The company is also involved in bulk antigens, antibodies, and reagents used by researchers and other diagnostic manufacturers, as well as provides contract manufacturing service of proteins and other biologicals for use by biopharmaceutical and biotechnology companies that are engaged in research for new drugs and vaccines. It markets its products to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, and diagnostics manufacturers in approximately 60 countries worldwide, through direct sales force and independent distributors. Meridian Bioscience has a strategic partnership with Merck KGaA for the development of new assays for the clinical market. In late-July, the company reported that fiscal third-quarter profits of 18 cents per share exceeded analyst expectations of 17 cents. Net income grew 20% year-over-year, while sales rose 5 percent to $26.6 million from $25.4 million last year. The company also reaffirmed its increased full-year earnings per share guidance of 63 cents to 66 cents on sales of $106 million to $109 million. John A. Kraeutler, President and Chief Operating Officer, commented, "Our diagnostics businesses continue to generate solid growth in sales, operating income and cash flow, leading to impressive gains in operating margins. Led by our innovative tests for stomach ulcers, C. difficile disease and upper respiratory infections, we continue to capture market share in the primary strategic segments of Meridian's global diagnostics business." VIVO has exceeded analyst expectations for five consecutive quarters. Year-over-year growth has been consistently in the double digits over the past few years. Both analysts covering the stock have raised their estimates for next year. Over the past 60 days, next year's numbers have increased 7.9% to 82 cents per share. The stock is currently trading at 28x next year's estimates, above the projected long-term growth rate of 22%, giving the stock a PEG ratio of 1.27. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home