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.
On Wednesday, Medicines (NASDAQ:MDCO)'s Director, Alexander J. Denner, made a $6.18M purchase of MDCO, buying 248,100 shares at a cost of $24.91 a piece. So far Denner is in the green, up about 3.0% on their purchase based on today's trading high of $25.65. Medicines is trading up about 0.3% on the day Monday. Before this latest buy, Denner bought MDCO at 4 other times during the past year, for a total cost of $32.84M at an average of $22.40 per share.
And on Thursday, Director James Thomas Gibson purchased $466,691 worth of S&T Bancorp (NASDAQ:STBA), purchasing 12,000 shares at a cost of $38.89 a piece. S&T Bancorp is trading up about 0.1% on the day Monday. Gibson was up about 1.6% on the buy at the high point of today's trading session, with STBA trading as high as $39.51 in trading on Monday.
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