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.
At Biogen (NASDAQ:BIIB), a filing with the SEC revealed that on Thursday, Director Alexander J. Denner bought 73,858 shares of BIIB, at a cost of $278.50 each, for a total investment of $20.57M. Investors can grab BIIB even cheaper than Denner did, with shares trading as low as $270.86 at last check today which is 2.7% below Denner's purchase price. Biogen is trading down about 0.1% on the day Tuesday.
And also on Thursday, Director Mary L. Petrovich purchased $498,956 worth of Woodward (NASDAQ:WWD), purchasing 7,300 shares at a cost of $68.35 each. This buy marks the first one filed by Petrovich in the past twelve months. Woodward is trading trading flat on the day Tuesday. So far Petrovich is down about 0.7% on the purchase, with shares changing hands as low as $67.88 at last check today.
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