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The Barclays Triggers More Insider Buying

March 13, 2013 | About:
Monica Wolfe

Monica Wolfe

The Barclays Global Healthcare Conference seems to have triggered a trend within insider trading in the medicine and healthcare industries. Earlier we saw five insider buys the day before Allscripts-Misys was set to present at the Barclays. Now there are two directors from AngioDynamics (ANGO) who invested nearly a million dollars back into their company the very day they were set to present at the conference. Chairman of the Board Vincent Bucci and Director Dennis Meteny bought 89,600 shares of AngioDynamics on Tuesday, March 12. Chairman Bucci bought 85,000 shares at $10.77 per share for a total of $915,450. Director Meteny bought 4,600 shares at $10.82 each for a total amount of $49,772. Bucci and Meteny now hold 133,696 and 21,950 shares, respectively.

Vincent Bucci has been chairman of the board since July 2007. Bucci has also been the President and CEO of Health Policy Associates Inc., a consulting company, since 1992.

Director Dennis Meteny has been on the board of directors for AngioDynamics since 2004. Meteny is currently the president and CEO of Cygnus Manufacturing Company. He has a BS in accounting from Pennsylvania State University and his MBA from the University of Pittsburgh.

The Barclays Global Healthcare Conference has brought about several noticeable insider buys within the medicine, medical supplies and healthcare industries. Some of these other insider buys come from Mela Sciences Inc. (MELA), Vision Sciences Inc. (VSCI), Allscripts-Misys (MDRX) and Opko Health (OPKO).

AngioDynamics is a company centralized in the medical services and device industry with a market cap of $393.5 million. Based out of Latham, N.Y., AngioDynamics was initially formed to research and develop products used in interventional radiology. The company now makes products that are used in a variety of different medical fields. They produce and distribute diagnostic catheters, vascular access products, angiographic products and accessories, angioplasty products and renal therapy products.

ANGO is owned by the following Gurus: Chuck Royce (870,425 shares), Mario Gabelli (166,032 shares), Jim Simons (160,032 shares) and Steven Cohen (1,100 shares).

President and CEO Joseph DeVivo presented at the Barclays yesterday afternoon about the business strategy and recent corporate development within AngioDynamics. If you would like to listen to the webcast of AngioDynamics’ presentation at the Barclays click here. The presentation will be available via webcast for the next 90 days.

With its shares up 4.55%, AngioDynamics trades at $11.26.

Rating: 3.5/5 (2 votes)


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