Weekly CEO Buys: Abbott Laboratories, GE, OPKO Health
- By Joy Hu
According to GuruFocus Insider Data, these are the largest CEO buys during the past week. The overall trend of purchases is illustrated in the chart below:
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The intrinsic value of ABT
Abbott Laboratories: Chairman and CEO Miles D. White bought 731,500 shares
White bought 731,500 shares during the past week at a price of $43.23 per share.
Abbott discovers, develops, manufactures, and sells health care products. Its products include branded generic pharmaceuticals manufactured internationally, marketed, and sold outside the U.S. The company has a market cap of $65.74 billion; as of July 29, its shares traded at $44.75 with a P/E ratio of 29.54.
Second-quarter 2016 worldwide sales of $5.3 billion increased 3.2% on a reported basis compared to the same period of 2015.
The price of the stock has increased by 3.51% since White bought the stock.
Executive Vice President Michael J. Warmuth sold 26,800 shares of ABT stock on July 26 at a price of $43.49 per share. The price of the stock has increased by 2.89% since.
Vice President and Controller Robert E. Funck sold 26,800 shares of ABT stock on July 25 at a price of $43.08 per share. The price of the stock has increased by 3.87% since.
General Electric Co.: Chairman and CEO Jeffrey R. Immelt bought 50,000 shares
Immelt bought 50,000 shares on July 26 at a price of $31.45 per share.
General Electric is a diversified company with products and services that range from aircraft engines, power generation, oil and gas production equipment, household appliances, medical imaging, business and consumer financing and industrial products. The company has a market cap of $286.35 billion; as of July 29, its shares traded at $31.14 with a P/E ratio of 26.30.
The price of the stock has decreased by 0.99% since Immelt bought the stock.
OPKO Health Inc.: CEO, Chairman and 10% owner Phillip Frost bought 10,000 shares
Frost bought 10,000 shares on July 27 at a price of $9.91 per share.
OPKO is a biopharmaceutical and diagnostics company. The company is engaged in the research and development of pharmaceutical products and vaccines. OPKO has a market cap of $5.45 billion; as of July 29, its shares traded at $9.95 with a P/E ratio of 68.15.
Consolidated revenues for the three months ended March 31 increased to $291.0 million from $30.1 million in the prior year quarter. Net loss was $12 million compared with net loss of $117.1 million for the prior year quarter.
Wesco Aircraft Holdings Inc.: President and CEO David J. Castagnola bought 1,126 shares
Castagnola bought 1,126 shares on July 21 at a price of $13.30 per share.
Wesco distributes and provides supply chain management services to the aerospace industry. It offers services such as traditional distribution to the management of supplier relationships, JIT delivery, and point-of-use inventory management. The company has a market cap of $1.26 billion; as of July 29, its shares traded at $12.85 with a P/E ratio of -8.11.
Net sales in the fiscal 2016 second quarter were $376.7 million, compared with $385.6 million in the prior-year second quarter.
The price of the stock has decreased by 3.38% since Castagnola bought the shares.
For the complete list of stocks bought by their company CEOs, go to: CEO Buys.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 5 Warning Sign with ABT. Click here to check it out.
The intrinsic value of ABT
