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 Medicines (NASDAQ:MDCO), a filing with the SEC revealed that on Wednesday, Director Alexander J. Denner purchased 431,000 shares of MDCO, at a cost of $33.89 each, for a total investment of $14.61M. Investors can grab MDCO even cheaper than Denner did, with the stock changing hands as low as $32.84 in trading on Thursday which is 3.1% below Denner's purchase price. Medicines is trading off about 0.9% on the day Thursday. Before this latest buy, Denner purchased MDCO at 5 other times during the past twelve months, for a total investment of $39.02M at an average of $22.77 per share.
And also on Wednesday, Co-CEO and President Jeffrey J. Zimmer purchased $1.43M worth of ARMOUR Residential REIT (NYSE:ARR), purchasing 80,000 shares at a cost of $17.93 each. Before this latest buy, Zimmer made one other purchase in the past twelve months, buying $96,600 shares for a cost of $19.32 a piece. ARMOUR Residential REIT is trading off about 0.2% on the day Thursday.
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