Fly News Breaks for May 18, 2017
VIVO
May 18, 2017 | 07:20 EDT
Canaccord analyst Mark Massaro noted the FDA issued a warning letter to Meridian Bioscience regarding its Magellan Diagnostics subsidiary, which is 10%-12% of its revenue. The letter warned about the risk of inaccurate test results from certain lead poisoning tests. Massaro said it is difficult to determine what the impact will be on margins until it can resolve both the FDA and CDC concerns, but it is definitely a setback for the company. Massaro maintained his Hold rating and lowered his price target to $14 from $15 on Meridian Bioscience shares.
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