Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
On Tuesday, Meridian Bioscience (NASDAQ:VIVO)'s Executive VP of Operations, Lawrence Baldini, made a $652,294 buy of VIVO, purchasing 32,500 shares at a cost of $20.07 each. Baldini was up about 2.4% on the purchase at the high point of today's trading session, with VIVO trading as high as $20.56 in trading on Thursday. Meridian Bioscience Inc. is trading up about 1.2% on the day Thursday. This purchase marks the first one filed by Baldini in the past twelve months.
And at Hewlett-Packard (NYSE:HPQ), there was insider buying on Tuesday, by COO William L. Veghte who purchased 23,010 shares for a cost of $12.99 each, for a total investment of $298,860. Hewlett-Packard Co is trading up about 0.5% on the day Thursday. So far Veghte is in the green, up about 8.1% on their buy based on today's trading high of $14.04.
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