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 cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At Quest Diagnostics, Inc. (NYSE:DGX), a filing with the SEC revealed that on Tuesday, CEO Stephen H. Rusckowski bought 20,000 shares of DGX, at a cost of $56.89 each, for a total investment of $1.14M. Rusckowski was up about 2.2% on the purchase at the high point of today's trading session, with DGX trading as high as $58.15 in trading on Thursday. Quest Diagnostics, Inc. is trading up about 1.3% on the day Thursday.
And on Monday, CFO Andrew B. Szafran purchased $745,000 worth of Tellabs, Inc. (TLAB), purchasing 200,000 shares at a cost of $3.73 a piece. This buy marks the first one filed by Szafran in the past twelve months. Tellabs, Inc. is trading down about 0.3% on the day Thursday. So far Szafran is in the green, up about 4.4% on their purchase based on today's trading high of $3.89.
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