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UPDATE: Canaccord Genuity Downgrades Meridian Bioscience to Hold on FQ3 Report

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Canaccord Genuity reduced its rating on Meridian Bioscience (NASDAQ: VIVO) from Buy to Hold and cut its price target from $25 to $18.

Canaccord Genuity commented, "We are downgrading our rating on VIVO to HOLD from Buy following a FQ3 miss, lower F2012 guidance, and our concerns on modest growth through next year. We lower our price target to $18 from $25. … Although the comp was tough in the quarter, we are more concerned about structural challenges. VIVO's C. difficile immunoassay business continues to face competitive pressures (mainly Alere), its sales force struggles defending share, and Illumigene utilization should be more robust with ~900 customers."

Meridian Bioscience closed at $16.81 on Thursday.

Latest Ratings for VIVO

DateFirmActionFromTo
May 2019MaintainsSellSell
May 2019UpgradesUnderweightNeutral
Apr 2019DowngradesHoldSell

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Posted-In: Canaccord GenuityAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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