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Shuda Xia
Shuda Xia
Articles (413) 

Top Insider Buys Highlight for the Week of Oct. 9

The largest Insider Buys this week were for Medtronic PLC, Element Solutions Inc., Ovintiv Inc. and Golub Capital BDC Inc.

October 11, 2020 | About:

According to GuruFocus data, the largest Insider Buys this week were for Medtronic PLC (NYSE:MDT), Element Solutions Inc. (NYSE:ESI), Ovintiv Inc. (NYSE:OVV) and Golub Capital BDC Inc. (NASDAQ:GBDC).

Medtronic PLC Director Richard H. Anderson bought 4,607 shares

Director Richard H. Anderson bought 4,607 shares on Oct. 8 at the average price of $108.52. The price of the stock has increased by 0.15% since.

Medtronic PLC is an international medical instrument company headquartered in Dublin, Ireland, with their operational headquarters in Fridley, Minnesota. The company is one of the world's largest medical equipment development companies, with operations in more than 140 countries. The company has a market capitalization of $146.09 billion, and as of Oct. 9 it traded at $108.68.

On Oct. 6, Medtronic PLC announced that Omar Ishrak has decided not to stand for re-election at the Annual General Meeting in December and will retire as Executive Chairman and Chairman of the company's Board of Directors, effective Dec. 11, 2020. Geoff Martha, the current Chief Executive Officer, will succeed Ishrak as Chairman of the Board. Martha has served on the company's Board since November of 2019 and has been the CEO since April of 2020. This change represents the final phase of the company's planned CEO succession process.

Element Solutions Inc. Director Martin E. Franklin bought 500,000 shares

Director Martin E. Franklin bought 500,000 share on Oct. 6 at the average price of $11.50. The price of the stock has increased by 6.17% since.

Element Solutions Inc. is an American specialty chemicals production corporation that focuses on manufacturing specialty chemicals for consumer electronics communications infrastructure, consumer packaging and offshore oil production. The company is also a component of the Russell 1000. The company has a market capitalization of $3.04 billion, and as of Oct. 9 it traded at $12.21.

On Oct. 7, Element Solutions Inc. announced that it has completed repurchasing 1,500,000 shares of the company's common stock from affiliated entities of Nicolas Berggruen, a co-founder and former director of the company, in a negotiated transaction at a price of $11.50 per share. Executive Chairman Sir Martin E. Franklin purchased 500,000 additional shares and third-party investors acquired all of Berggruen's remaining shares of the company's common stock.

Ovintiv Inc. Executive Vice President of Corporate Services Rachel Maureen Moore bought 6,000 shares

EVP of Corporate Services Rachel Maureen Moore bought 6,000 shares on Oct. 2 at the average price of $7.42. The price of the stock has increased by 27.63% since.

Ovintiv Inc. is an American international hydrocarbon exploration and production company that was formerly headquartered in Calgary, Canada. The company is ranked 1923rd on the Forbes Global 2000 list and was the largest natural gas producer in Canada before asset sales in 2013. The company has a market capitalization of $2.44 billion, and as of Oct. 9 it traded at $9.47.

On Sept. 1, Ovintiv Inc. announced that its subsidiary, Ovintiv Canada ULC, has closed an agreement with PetroChina Canada Ltd. to terminate the companies' joint venture and transfer the ownership and operation of proportions of Duvernay shale assets in west-central Alberta. The two companies will partition the acreage and associated infrastructure as they will independently own and operate their interests going forward. There were no penalties or fees associated with this transfer.

Golub Capital BDC Inc. Chairman Lawrence E. Golub bought 4,000 shares

Chairman Lawrence E. Golub bought 4,000 shares on Oct. 8 at the average price of $13.66. The price of the stock has increased by 1.02% since.

Golub Capital BDC Inc. is an American business development company that is affiliated with Golub Capital, an asset management and lending company that has over $25 billion of capital under its management. The company primarily invests in senior secured loans of U.S. middle market companies. The company has a market capitalization of $2.31 billion, and as of Oct. 9 it traded at $13.80.

On Sept. 29, Golub Capital BDC Inc. announced that it has priced an underwritten public offering of $400 million in aggregate principal amount of 3.375% notes due 2024. The notes will mature on April 15, 2024 and may be redeemed in whole or in part. The company will use the net proceeds to repay outstanding debt.

For the complete list of stocks that were bought by their company executives, go to: Insider Trades.

Disclosure: I do not own stock in any of the companies mentioned in the article.

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  • 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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