Canaccord analyst Mark Massaro downgraded Meridian Bioscience to Sell from Hold and lowered his price target to $11 from $17, saying he believes a turnaround is not going to occur in the near-term and, if it is possible, it is likely one to two years away. Massaro tells investors that his concerns are "heightened" after Meridian delivered its second quarterly preannounced to-line miss and fiscal year guide down, and disclosed additional challenges, including rising competition in its life sciences segment from China, and the additional information hold by the FDA on its 510(k) applications to reinstate its venous blood sample-type. Additionally, the analyst says he is concerned about forward year operating margins and earnings.