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.
At CVS Health, a filing with the SEC revealed that on Friday, Director David W. Dorman purchased 24,300 shares of CVS, at a cost of $62.22 each, for a total investment of $1.51M. CVS Health Corporation is trading down about 2.2% on the day Monday. This purchase marks the first one filed by Dorman in the past year.
And on Thursday, Director Ronald A. Matricaria bought $519,724 worth of Orthofix International, buying 10,000 shares at a cost of $51.97 each. This buy marks the first one filed by Matricaria in the past year. Orthofix International is trading up about 3.5% on the day Monday. Matricaria was up about 4.7% on the buy at the high point of today's trading session, with OFIX trading as high as $54.40 in trading on Monday.
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