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NEW YORK (AP) - Meridian Bioscience Inc. shares jumped Monday as Robert W. Baird & Co. upgraded the stock to "outperform" from "neutral," citing valuation.
Stock of the Cincinnati-based company rose $2.68, or 15 percent, to $20.78 in afternoon trading on the Nasdaq Stock Market. Monday's strongest level was $20.93. On a 52-week basis, there was a high of $23.01 on Oct. 25 and a low of $8.85 on April 18.
Meridian designs and markets immunodiagnostic test kits and reagents for doctors' offices, labs and hospitals. It uses technologies to diagnose and treat common medical conditions such as gastrointestinal, urinary tract, viral and respiratory infections.
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