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.
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