NEW YORK ( TheStreet) -- Meridian Bioscience (Nasdaq: VIVO) hit a new 52-week high Friday as it is currently trading at $26.51, above its previous 52-week high of $26.41 with 120,020 shares traded as of 10:02 a.m. ET. Average volume has been 189,600 shares over the past 30 days.

Meridian Bioscience has a market cap of $1.1 billion and is part of the health care sector and drugs industry. Shares are up 11.1% year to date as of the close of trading on Thursday.

Meridian Bioscience, Inc. operates as an integrated life science company. The company primarily engages in the development, manufacture, sale, and distribution of diagnostic test kits primarily for respiratory, gastrointestinal, viral, and parasitic infectious diseases. The company has a P/E ratio of 42.5, above the average drugs industry P/E ratio of 41.8 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Meridian Bioscience as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Meridian Bioscience Ratings Report.

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