This article presents an overview of the 5 Mid-Cap Stocks with Insider Purchases. For a detailed overview of such stocks, read our article, 10 Mid-Cap Stocks with Insider Purchases.
5. Option Care Health Inc (NASDAQ:OPCH)
Number of Hedge Fund Investors: 35
Infusion therapy and care company Option Care Health Inc (NASDAQ:OPCH) is one of the mid-cap stocks which recently saw insider purchases. Harry M. Jansen Kraemer, a member of Option Care Health Inc’s (NASDAQ:OPCH) board of directors, bought 35,000 shares of Option Care Health Inc (NASDAQ:OPCH) on February 26 at $31.55 per share. Since then the stock has gained about3.54%.
As of the end of the fourth quarter of 2023, 35 hedge funds tracked by Insider Monkey reported owning stakes in Option Care Health Inc (NASDAQ:OPCH), significantly down from 47 funds in the previous quarter.
4. Gates Industrial Corporation PLC (NYSE:GTES)
Number of Hedge Fund Investors: 38
Gates Industrial Corporation PLC (NYSE:GTES) is one of the top mid-cap stocks with recent insider purchases. Wilson Neely, who is a board member at Gates Industrial Corporation PLC (NYSE:GTES), on February 28 bought 50,000 shares of Gates Industrial Corporation PLC (NYSE:GTES) at $14.55 per share. The stock was trading at around $14.50 on February 28. Since then through March 7 the stock has gained about 6%. On February 20 Neely had bought 10,000 shares of Gates Industrial Corporation PLC (NYSE:GTES) at $13.24 per share.
3. Instacart (NASDAQ:CART)
Number of Hedge Fund Investors: 38
Instacart (NASDAQ:CART) is one of the top mid-cap stocks to have seen insider buying activity recently. Ravi Gupta, a director and 10% owner at Instacart (NASDAQ:CART), bought 137,472 shares of the ecommerce company on February 23 at $29.93 per share. Since then the stock has jumped 9.9%.
Insider Monkey’s database of 933 hedge funds shows that 38 hedge funds tracked by Insider Monkey had stakes in Instacart (NASDAQ:CART) as of the end of the fourth quarter of 2023.
2. Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)
Number of Hedge Fund Investors: 42
Philip Johnson, who is the EVP and CFO at Jazz Pharmaceuticals PLC (NASDAQ:JAZZ), snapped up 12,000 shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) at $119.65 per share on March 1. Since this transaction the stock has lost about 1.40% in value through March 7.
Insider Monkey’s database of 933 hedge funds shows that 42 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ). The most significant stakeholder of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) was Bernard Horn’s Polaris Capital Management which owns a $156 million stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ).
Aristotle Capital Global Equity Strategy made the following comment about Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in its Q3 2023 investor letter:
“During the quarter, we sold our position in Magna International and invested in a new position, Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Founded in 2003, Jazz Pharmaceuticals is a global biopharmaceutical company headquartered in Ireland. The drugmaker’s portfolio of nine approved products focuses on conditions with limited therapeutic treatments in neuroscience (~75% of 2022 revenue) and oncology (~25%).
Jazz’s drug Xyrem was added to its portfolio in 2005 and was approved for use in patients with narcolepsy. The drug’s strong efficacy propelled it to be the standard of care for this incurable sleep condition and has achieved wide adoption for the treatment of excessive daytime sleepiness and cataplexy (episodes of loss of muscle control)…
Xyrem’s patent exclusivity ended in January 2023, and authorized generic versions of the product have entered the market. To prepare for the patent cliff, the company developed Xywav, a lower‐sodium version of Xyrem, which is touted for its potentially better heart safety. The drug has received FDA approval for the treatment of narcolepsy and idiopathic hypersomnia and has orphan drug exclusivity through 2027…” (Click here to read the full text)
1. Transocean LTD (NYSE:RIG)
Number of Hedge Fund Investors: 45
Frederik Mohn, a director and 10% owner at Transocean LTD (NYSE:RIG), bought one million shares of the drilling company at $4.89 per share. This transaction took place on February 27, when the stock closed trading at $4.83. From this day through March 7 the stock has gained about 6.42%. Perestroika (Cyprus) Ltd., who has a director status at Transocean LTD’s (NYSE:RIG) board, also bought one million shares of Transocean LTD (NYSE:RIG) on February 27 at $4.89 per share.
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