1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies

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.

» Take a Free Trial of Premium Membership

Rating: 2.8/5 (5 votes)


Please leave your comment:

GuruFocus has detected 7 Warning Signs with The Spectranetics Corp $SPNC.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by

User Generated Screeners

byron codillaValue
pbarker46F Score & 3 year high
grgrassoPrice steadily growing
LarsANDersenBig Returns With Dividend Grow
rharmelinkDividend Stocks with price dec
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat