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 Friday, Mednax's Director, Michael Fernandez, made a $8.15M buy of MD, purchasing 377,591 shares at a cost of $21.58 a piece. So far Fernandez is in the green, up about 5.8% on their buy based on today's trading high of $22.82. Mednax is trading up about 6.2% on the day Tuesday.
And on Monday, CEO H. Lawrence Culp Jr. bought $3M worth of General Electric, buying 331,684 shares at a cost of $9.04 a piece. Before this latest buy, Culp Jr. made one other purchase in the past twelve months, buying $2.19M shares at a cost of $9.73 a piece. General Electric is trading up about 4.9% on the day Tuesday. Culp Jr. was up about 6.0% on the buy at the high point of today's trading session, with GE trading as high as $9.59 in trading on Tuesday.
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