Market Overview

Notable Insider Buys This Past Week: Bunge, Hain Celestial And More

Notable Insider Buys This Past Week: Bunge, Hain Celestial And More

Insider buying can be an encouraging signal for potential investors.

CEOs made notable purchases last week, with one of them bucking a selling trend.

Some insiders made return trips to the buy window.

Conventional wisdom says that insiders and 10-percent owners really only buy shares of a company for one reason: they believe the stock price will rise and they want to profit.

Insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty. 

Here's a look at a few notable insider purchases reported in the past week.

Also of note: activist investor Carl Icahn has been picking up shares of business services provider Conduent Inc (NYSE: CNDT).

Hain Celestial

Hain Celestial Group Inc (NASDAQ: HAIN) saw a director return for a few more notable indirect share purchases this past week. At $23.09 to $24.31 each, the nearly 1.49 million shares acquired most recently totaled more than $35.34 million. The stake was listed as over 4.2 million shares, which compares with more than 105 million shares outstanding.

This maker of organic and natural products recently posted better-than-expected quarterly results and announced the sale of its interest in Hain Pure Protein for $80 million.

Shares ended Friday at $22.48, below the director's latest purchase price range, after retreating more than 7 percent in the past week.

The consensus price target is just $21.90, but shares have traded as high as $31.53 in the past 52 weeks.

Medicines Company

The Medicines Company (NASDAQ: MDCO) saw a director last week indirectly acquire 431,000 shares of this biopharmaceutical company at $33.13 to $34.50 apiece. The transactions totaled more than $14.6 million. Note that this same director purchased 855,000 shares back in early March, when the share price was near $25. The director's stake was last seen at over 4.06 million shares.

Shares of this New Jersey-based company rallied after it released positive midstage study results for its lead product candidate Inclisiran, a cholesterol-lowering therapy. The stock ended the week more than 3-percent higher and closed most recently at $34.88, so the director's latest purchases seem to be well-timed. Note that shares have traded as high as $41.57 in the past 52 weeks; the analyst consensus price target is $53.57.

See also: Barron's Picks And Pans: Boston Beer, MGM, Target, Visa And More


CEO Greg Heckman and two other Bunge Ltd (NYSE: BG) insiders stepped up to the buy window. The 52,588 shares reportedly acquired in the last week cost more than $2.71 million. Share prices ranged from $51.14 to $52.17. Heckman's purchases were pursuant to a Rule 10b5-1 trading plan, and his stake was last seen at more than 55,000 shares.

This agribusiness and food company recently reported better-than-expected first-quarter results and appointed a new chief financial officer.

Shares were trading at $50.55 a share on last look, after ending the week more than 2 percent lower. The S&P 500 pulled back less than 2 percent last week. The stock has changed hands as high as $73.13 a share in the past year. Analysts have a consensus price target of just $67. 

Cognizant Technology Solutions

Last week, Cognizant Technology Solutions Corp (NASDAQ: CTSH) CEO Brian Humphries purchased 19,000 shares of this IT services provider. At prices ranging from $61.06 to $61.10 per share, that cost him more than $1.16 million. Note that another executive sold more than 3,300 shares earlier in the week, and other insiders were selling shares throughout March and April.

This New Jersey-based company's stock was one of Benzinga's bears of the week following its most recent earnings report. The shares ended the past week trading at $61.87, above the wide purchase price noted above, after rising more than 2 percent in the past week. While the consensus target was last seen at just $68.85, the stock has traded as high as $83.35 in the past 52 weeks.

See also: Benzinga's Bulls & Bears Of The Week: Boeing, Ford, Target, Tesla And More

At the time of this writing, the author had no position in the mentioned equities.

Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.

Posted-In: Carl IcahnNews Insider Trades Best of Benzinga


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