Is Meridian Bioscience, Inc. (VIVO) A Good Stock To Buy?

Judging by the fact that Meridian Bioscience, Inc. (NASDAQ:VIVO) has weathered falling interest from the aggregate hedge fund industry, we can see that there lies a certain “tier” of funds that decided to sell off their full holdings last quarter. It’s worth mentioning that Matthew Tewksbury’s Stevens Capital Management said goodbye to the largest stake of the “upper crust” of funds tracked by Insider Monkey, worth an estimated $0.4 million in stock, and Glenn Russell Dubin’s Highbridge Capital Management was right behind this move, as the fund said goodbye to about $0.4 million worth of shares.

Let’s now review hedge fund activity in other stocks similar to Meridian Bioscience, Inc. (NASDAQ:VIVO). These stocks are First Commonwealth Financial (NYSE:FCF), Greenbrier Companies Inc (NYSE:GBX), Innophos Holdings, Inc. (NASDAQ:IPHS), and TriMas Corp (NASDAQ:TRS). This group of stocks’ market valuations match VIVO’s market valuation.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $50 million. That figure was $61 million in VIVO’s case. Greenbrier Companies Inc (NYSE:GBX) is the most popular stock in this table. On the other hand First Commonwealth Financial (NYSE:FCF) is the least popular one with only 5 bullish hedge fund positions. Meridian Bioscience, Inc. (NASDAQ:VIVO) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard GBX might be a better candidate to consider taking a long position in.

Disclosure: None