As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy - they expect to make money. So let's look at two noteworthy recent insider buys.
On Thursday, Bausch Health Companies' CEO, Joseph C. Papa, made a $710,100 buy of BHC, purchasing 30,000 shares at a cost of $23.67 each. So far Papa is in the green, up about 2.6% on their purchase based on today's trading high of $24.29. Bausch Health Companies is trading up about 1.9% on the day Friday. Before this latest buy, Papa made one other buy in the past twelve months, purchasing $669,600 shares for a cost of $22.32 a piece.
And at Devon Energy, there was insider buying on Wednesday, by Director Robert H. Henry who bought 11,651 shares at a cost of $30.01 each, for a trade totaling $349,647. This buy marks the first one filed by Henry in the past year. Devon Energy is trading up about 2.1% on the day Friday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
