Meridian Bioscience (VIVO) Stock: Why The Price Increased Today

By Amit Chowdhry ● Apr 7, 2022
  • The stock price of Meridian Bioscience, Inc. (NASDAQ: VIVO) increased by over 4% during intraday trading today. This is why.

The stock price of Meridian Bioscience, Inc. (NASDAQ: VIVO) – a leading global provider of diagnostic testing solutions and life science raw materials – increased by over 4% during intraday trading today. Investors are responding positively to Meridian Bioscience providing preliminary net revenues results for its second quarter of fiscal 2022.

The preliminary unaudited net revenues for the second quarter of fiscal 2022 are expected to be between $109 million and $113 million, above Meridian’s expectations and a record for the company. Individually, both of the company’s segments are also expected to have record net revenues in the quarter with the Diagnostics segment net revenues expected to be between $40 million and $42 million and the Life Science segment net revenues expected to be between $69 million and $71 million. 

The LeadCare product line’s return to market earlier in the quarter than expected and positive demand for the SARS-CoV-2 rapid antigen test contributed to Diagnostics segment results. And strong demand for reagents associated with COVID-19 antigen testing during the recent Omicron wave of infections contributed to Life Science segment results.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.