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 Friday, Tyco International Ltd. (NYSE:TYC)'s Director, Frank M. Drendel, made a $141,500 purchase of TYC, buying 5,000 shares at a cost of $28.30 a piece. Tyco International Ltd. is trading up about 1.8% on the day Wednesday.
And at Insmed Inc (NASDAQ:INSM), there was insider buying on Monday, by CEO William Lewis who bought 13,568 shares at a cost of $7.36 each, for a trade totaling $99,860. Insmed Inc is trading down about 2.5% on the day Wednesday. Bargain hunters can pick up INSM at a price even lower than Lewis did, with the stock trading as low as $7.00 in trading on Wednesday -- that's 4.9% below Lewis's purchase price.
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