Insiders Are Fleeing IHS Markit Ltd (INFO) and Medtronic PLC (MDT), Plus Insider Buying at 3 Companies

Clinical-Stage Immunotherapy Company Registers Insider Buying Amid Stock Price Weakness

Immune Design Corp (NASDAQ:IMDZ) recently witnessed the first insider buying of its shares in 2016, so let’s find out who stands behind the recent purchase. Stephen R. Brady, Executive Vice President of Strategy and Finance, snatched up 1,500 shares on Friday for $6.84 each. After the recent purchase, Mr. Brady currently owns 17,132 shares.

The shares of the clinical-stage immunotherapy company are down by 65% since the beginning of 2016. Immune Design Corp (NASDAQ:IMDZ) develops technologies to activate the immune system’s natural ability to create tumor-specific cytotoxic T cells to fight cancer. Earlier this year, the FDA granted orphan drug designation in soft tissue sarcoma for both components of the company’s primary product candidate CMB305, both for its “prime boost” cancer immunotherapy product candidate and for CMB305 itself. Orphan drug designations offer certain benefits such as waivers of certain regulatory fees, but do not provide assurance of regulatory approval or speed up the regulatory review process. Baker Bros. Advisors, run by Julian Baker and Felix Baker, had nearly 149,000 shares of Immune Design Corp (NASDAQ:IMDZ) in its portfolio at the end of the first quarter.

Massive Insider Selling at Data and Business Research Provider After Freshly-Completed Merger

IHS Markit Ltd (NASDAQ:INFO) recently witnessed two executives unload sizable blocks of shares. To begin with, Jonathan Gear, Executive Vice President of Resources and Transportation, discarded 15,000 shares on Friday at $36.00 apiece, cutting his ownership to 319,287 shares. More importantly, Chairman and CEO Jerre L. Stead offloaded 32,000 shares on Friday and 38,000 shares on Monday at prices between $34.91 and $35.26 per share. Following the recent transactions, Mr. Stead holds a direct ownership stake of 805,380 shares.

Earlier this month, U.S information and analytics provider IHS Inc. and U.K.-based market-data company Markit Ltd. completed their all-stock merger agreement reached in late March, creating a $13 billion London-based data and business research provider. The newly-created company, called IHS Markit Ltd., is set to pay a corporate tax rate in the low-to-mid 20% range, significantly below the rate of 35% paid by U.S companies. IHS Markit has an 11-person Board comprised of senior management from the two companies. Mr. Stead, previously the CEO of IHS, serves as the CEO of the combined company.

Medical-Device Maker Registers More Insider Selling

Medtronic PLC (NYSE:MDT) also registered some insider selling this past week. Geoffrey Martha, Executive Vice President and President of the Restorative Therapies Group at Medtronic, offloaded 3,766 shares on Friday for $88.26 each, trimming his stake to 26,273 shares.

The medical-device company has seen its market capitalization gain 14% so far in 2016, with the company’s stock having advanced by 145% over the past five years. This strong performance partially explains the recent surge in insider selling at the company. In late June, Medtronic PLC (NYSE:MDT) announced that it was acquiring HeartWare International Inc. (NASDAQ:HTWR) for $1.1 billion, a deal that will expand the medical-device maker’s existing portfolio by adding more heart-treatment products. HeartWare shareholders will receive $58 in cash for each HeartWare share owned. HeartWare develops the HVAD heart pump, a mechanical pump implanted in patients suffering from advanced heart failure. Ken Fisher’s Fisher Asset Management owns a mere 4,716 shares of Medtronic PLC (NYSE:MDT) as of the end of June.

Disclosure: None