$1M Bet On This Healthcare Stock? Check Out These 4 Stocks Insiders Are Buying

Although US stocks closed lower on Thursday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Align Technology

• The Trade: Align Technology, Inc. ALGN President and CEO Joseph Hogan acquired a total of 2,928 shares an average price of $341.50. To acquire these shares, it cost around $1 million.
• What’s Happening: Align Technology recently announced a $250 million buyback program..
• What Align Technology Does: Align Technology is the leading manufacturer of clear aligners.

Cimpress

• The Trade: Cimpress plc CMPR Director, CEO, Chairman Robert Keane acquired a total of 22,179 shares at an average price of $39.08. To acquire these shares, it cost around $866.67 thousand.
• What’s Happening: Cimpress recently reported worse-than-expected Q2 sales results.
• What Cimpress Does: Cimpress PLC invests in and builds customer-focused, entrepreneurial, mass-customization businesses for the long term.

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Centene

• The Trade: Centene Corporation CNC Director Theodore Samuels II bought a total of 7,000 shares at an average price of $71.88. To acquire these shares, it cost around $503.16 thousand.
• What’s Happening: Centene reported a Q4 FY22 adjusted EPS of $0.86, compared to $1.01 a year ago, slightly ahead of the consensus of $0.85.
• What Centene Does: Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges.

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B. Riley Financial

• The Trade: B. Riley Financial, Inc. RILY Chairman and Co-CEO Bryant R Riley bought a total 135,923 shares at an average price of $40.18. The insider spent around $5.46 million to buy those shares.
• What’s Happening: B. Riley Financial, during December, said it expects fourth-quarter FY2022 operating adjusted EBITDA of $90 million - $100 million.
• What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company.