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Weekly CEO Buys Highlight: Spectranetics Corp., Noven Pharmaceuticals Inc., Dolan Media Company, Modine Manufacturing Company, Rockwood Holdings Inc.

September 09, 2008 | About:

Weekly highlight of top CEO buys. Related companies: Spectranetics Corp. (SPNC), Noven Pharmaceuticals Inc. (NOVN), Dolan Media Company (DM), Modine Manufacturing Company (MOD), Rockwood Holdings Inc. (ROC).

Rockwood Holdings Inc. (ROC): Chairman & CEO, Director Seifi Ghasemi Bought 15,000 Shares

Specialty chemical and materials company Rockwood Holdings Inc. (ROC) will close on the sale of its pool-chemical business Arch Chemicals for $130 million by the fourth quarter. The company’s second quarter profit over-doubled to $78 million or $1.01 per share from $28 million or $0.37 a share on a revenue increase by 18% to $945.5 million. Rockwood will raise prices between 5% to 20% to help balance the rising material and energy expenses.

Jean-Marie Eveillard bought 320,000 shares, while George Soros sold out all his ROC holdings in the quarter before June.

Chairman & CEO, Director Seifi Ghasemi bought 15,000 shares on 9/4/08 at $33.66; and CEO Seifi Ghasemi sold 99,500 shares on 6/17/08 at $38.60.

Insiders sold large quantities of stock near $38.60 in June: 10% Owners—Europe Ltd Kkr, Director Todd A. Fisher, Perry Golkin, Paul E Raether, Millennium Gp Llc Kkr, and Llc Strata each sold 7,575,881 shares; 10% Owner Reinhard Gorenflos sold 3,784,010 shares; 10% Owner Suisse/ Credit sold 2,149,842 shares; SVP Thomas Riordan sold 30,000 shares; SVP & CFO Robert J. Zatta sold 21,000 shares; and lastly, Officer James T. Sullivan sold 3,500 shares.

Rockwood Holdings Inc. has a market cap of $2.55 billion; its shares were traded at around $34.39 with a P/E ratio of 10.56 and P/S ratio of 0.74.

Noven Pharmaceuticals Inc. (NOVN): President and CEO, Director Peter C. Brandt Bought 20,000 Shares

Noven Pharmaceuticals (NOVN) is a leader in the development and manufacture of advanced trans-dermal and trans-mucus drug delivery products and technologies. Noven's principal commercialized products are trans-dermal drug delivery systems for use in hormone replacement therapy. In late-August, the company recalled over 400 thousand drug-releasing patches used to treat ADHD. Noven’s quarterly profit declined to $4.5 million or $0.18 a share, from $7.6 million or $0.30 a share, despite 30% rise in revenue to $24.6 million. The company shares have been traded between $8.49 and $18.51 per share over the past year.

President and CEO, Director Peter C. Brandt bought 20,000 shares on 8/29/08 at $12.39; he also bought another 25,000 shares on 5/14/08 at $9.79. Other buys were made at $9.89 to $11.41 by 10% Owner Capital Management Oss, who bought 218,000 shares; Director Phillip M. Satow, who bought 25,000 shares; VP and CFO Michael Dennis Price, who bought 15,000 shares; Directors Wayne P. Yetter and Donald A. Denkhaus, who each bought 10,000 shares; and Director Pedro P. Granadillo, who bought 9,000 shares.

Noven Pharmaceuticals Inc. has a market cap of $316.17 million; its shares were traded at around $12.7 with P/S ratio of 3.44.

Dolan Media Company (DM): Chairman, President and CEO, Director James P Dolan Bought 10,000 Shares

In July, Dolan Media Company (DM), which publishes legal and professional journals, acquired mortgage processor National Default Exchange for $64 million. For the second quarter, Dolan Media made an income of $4.4 million or $0.17 per diluted share compared to a prior loss of $21.9 million or $2.34 per diluted share. Revenue also increased 12% to $41.6 million from $37.1 million.

George Soros kept his 70,000 shares of Dolan Media, as Ron Baron sold out his holdings in the quarter that ended on 6/30/08 .

Chairman, President and CEO, Director James P. Dolan bought 10,000 shares, and Director Arthur F. Kingsbury bought 3,000 shares on 9/3/08 at $15.

Dolan Media Company has a market cap of $426.45 million; its shares were traded at around $14.64 with a P/E ratio of 87.14 and P/S ratio of 2.59.

Modine Manufacturing Company (MOD): President and CEO Thomas Andrew Burke Bought 6,000 Shares

Modine (MOD)’s first quarter (ending in June) earnings fell on restructuring costs. The heat-exchanger manufacturer made $7.8 million or $0.24 a share for the first quarter; this was less than the same period in 2007 of $11 million or $0.34 a share. Revenue rose for the second quarter to $499.7 million from $444.2 million. Modine will close up to three plants by 2009. Quarterly dividend will be set at $0.10 a share. The share price has been traded between $7.82 and $29.50 over the 52-weeks.

President and CEO Thomas Andrew Burke bought 6,000 shares on 9/4/08 at $15.74; Director Vincent L. Martin bought 3,000 shares on 3/17/08 at $12.02.

Regional VP James R. Rulseh sold 5,000 shares on 8/13/08 at $18.32.

Modine Manufacturing Company has a market cap of $516.69 million; its shares were traded at around $16.01 with P/S ratio of 0.26. The dividend yield of Modine Manufacturing Company stocks is 2.2%.

Spectranetics Corp. (SPNC): CEO, Director John G. Schulte Bought 5,000 Shares

Spectranetics Corp. (SPNC) is a medical device company engaged in the development manufacturing marketing and distribution of its technology for interventional cardiovascular therapy. The FDA officials currently have a search warrant on the company regarding U.S. Immigration and Customs Enforcement.

CEO, Director John G. Schulte and VP Donald C. Fletcher Jr. each bought 5,000 shares on 8/28/08 at $8.02. Managing Director Shahriar Matin bought 3,000 shares on 8/29/08 at $8. Also, VP Stephen D. Okland sold 4,472 shares on 6/3/08 at $10.93

Spectranetics Corp. has a market cap of $179.63 million; its shares were traded at around $5.63 with P/S ratio of 1.58.

  • CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
  • Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
  • Double Buys:: Companies that both Gurus and Insiders are buying
  • Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.

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