Tuesday 7/28 Insider Buying Report: BIIB, MJN Tuesday, July 28, 10:51 AM ET
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 Biogen (BIIB), a filing with the SEC revealed that on Monday, Director Stelios Papadopoulos bought 10,000 shares of BIIB, for a cost of $304.88 each, for a total investment of $3.05M. Papadopoulos was up about 3.2% on the purchase at the high point of today's trading session, with BIIB trading as high as $314.60 at last check today. Biogen is trading up about 0.3% on the day Tuesday.
And at Mead Johnson Nutrition (MJN), there was insider buying on Monday, by Director James M. Cornelius who purchased 10,000 shares for a cost of $89.03 each, for a total investment of $890,286. Before this latest buy, Cornelius made one other buy in the past twelve months, purchasing $997,758 shares at a cost of $99.78 a piece. Mead Johnson Nutrition is trading off about 0.3% on the day Tuesday. Cornelius was up about 1.2% on the buy at the high point of today's trading session, with MJN trading as high as $90.11 at last check today.
For MarketNewsVideo.com, I'm Sayoko Murase.
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