Weekly highlight of top insider buys: Genzyme Corp. (GENZ), Bank of Hawaii Corp. (BOH), Valeant Pharmaceuticals International (VRX), and Huntington Bancshares Inc. (HBAN)
Genzyme Corp. (GENZ): ExecVP,Therapeutics, Biosurgery David P Meeker Bought 2,000 Shares
ExecVP,Therapeutics,Biosurgery of Genzyme Corp., David P Meeker, bought 2,000 shares on 4/23/2009 at an average price of $53.2.
Genzyme Corporation is a global biotechnology company dedicated to making a major positive impact on the lives of people with serious diseases. The company is focused on rare genetic disorders, renal disease, and osteoarthritis, and includes an industry-leading array of diagnostic products and services. Genzyme Corp. has a market cap of $14.44 billion; its shares were traded at around $53.2 with a P/E ratio of 14.94 and P/S ratio of 3.13. Genzyme Corp. had an annual average earning growth of 20.2% over the past 10 years. GuruFocus rated Genzyme Corp. the business predictability rank of 3.5-star.
On April 22, 2009, Genzyme Corp. reported that first-quarter revenue rose to $1.15 billion, compared with $1.10 billion in the same period a year ago, an increase of 4 percent. GAAP net income rose 35 percent to $195.5 million compared with $145.3 million in the first quarter of 2008.
Genzyme Corp. is owned by six Gurus. They include: Ken Heebner, Edward Owens, Ruane Cunniff, Jean-Marie Eveillard, PRIMECAP Management, and Kenneth Fisher.
Buy: ExecVP,Therapeutics,Biosurgery David P Meeker bought 2,000 shares of GENZ stock on 4/23/2009; the price of the stock has increased by 2.41% since. Buy: Sr.VP, Corp. Operations & Phar Mark R Bamforth bought 700 shares in March Buy: Director Victor J Dzau bought 1,550 shares in December.Sell: Director Charles L Cooney and Sell: Exec VP,Legal & Corporate Dev. Peter Wirth sold shares in February and January respectively; the price has decreased more than 20%.
Bank of Hawaii Corp. (BOH): Corporate Secretary & Mark Alan Rossi Bought 1,782 Shares
Corporate Secretary & of Bank of Hawaii Corp., Mark Alan Rossi, bought 1,782 shares on 4/23/2009 at an average price of $36.6.
Bank of Hawaii Corporation is a regional financial services company that serves businesses, consumers, and governments in Hawaii, American Samoa and the West Pacific. The company’s principal subsidiary Bank of Hawaii was founded in 1897 and is the largest independent financial institution in Hawaii. Bank of Hawaii Corp. has a market cap of $1.75 billion; its shares were traded at around $36.6 with a P/E ratio of 10.28 and P/S ratio of 2.16. The dividend yield of Bank of Hawaii Corp. stocks is 4.92%. Bank of Hawaii Corp. had an annual average earning growth of 3.5% over the past 10 years.
Bank of Hawaii BOH earned $36 million in the first quarter, or $0.75 per diluted share. While this is an 8.3% drop as compared with the bank's fourth-quarter earnings, Bank of Hawaii still easily covered its quarterly $0.45 dividend payout.
Bruce Sherman owns 1,209,929 shares of Bank of Hawaii Corp. as of 12/31/2008, a decrease of 25.34% of from the previous quarter. This position accounts for 2.26% of the $2.42 billion portfolio of Private Capital Management.
Buy: Corporate Secretary & Mark Alan Rossi and Buy: VICE CHAIRMAN Peter S Ho bought shares in April; Sell: Director Mary G F Bitterman and Sell: Director Barbara J Tanabe sold shares the same month.
Valeant Pharmaceuticals International (VRX): President Bhaskar Chaudhuri Bought 1,703 Shares
President of Valeant Pharmaceuticals International, Bhaskar Chaudhuri, bought 1,703 shares on 4/20/2009 at an average price of $17.37.
Valeant Pharmaceuticals International is a global publicly traded research-based specialty pharmaceutical company that discovers, develops, manufactures, and markets a broad range of pharmaceutical products. Valeant Pharmaceuticals International has a market cap of $1.43 billion; its shares were traded at around $17.37 with a P/E ratio of 32.77 and P/S ratio of 2.17. Valeant Pharmaceuticals International had an annual average earning growth of 2.9% over the past 5 years.
Valeant Pharmaceuticals International recently reported results for the quarter ended 12/31/08. Total revenue was $183.0 million in the fourth quarter of 2008 as compared to $188.9 million in the fourth quarter of 2007. Loss from continuing operations was $150.5 million for the fourth quarter of 2008 as compared to income from continuing operations of $2.1 million for the fourth quarter of 2007.
Jean-Marie Eveillard owns 1,311,450 shares of Valeant Pharmaceuticals International as of 12/31/2008, which accounts for 0.4% of the $7.54 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC.
Buy: EVP & CFO Peter J Blott bought 8,850 shares of VRX stock thoughout November and March; the price per share has decreased more than 3.5% since his last buy. Buy: President Bhaskar Chaudhuri and Buy: 10% Owner Management, L.p. Healthcor bought shares in April and October respectively. Buy: EVP & Chief Administrative Elisa A. Karlson and Buy: Director Richard Koppes both bought shares in March. The price has increased more than 8% since.
Huntington Bancshares Inc. (HBAN): Director Gerard P Mastroiannni Bought 10,000 Shares
Director of Huntington Bancshares Inc., Gerard P Mastroiannni, bought 10,000 shares on 4/22/2009 at an average price of $3.24.
Huntington Bancshares is a multi-state bank holding company. Its subsidiaries conduct a full-service commercial and consumer banking business, engage in mortgage banking, lease financing trust services, and discount brokerage services underwriting. Huntington Bancshares Inc. has a market cap of $1.19 billion; its shares were traded at around $3.24 with and P/S ratio of 0.53. The dividend yield of Huntington Bancshares Inc. stocks is 1.23%.
On April 21,, 2009, Huntington Bancshares Incorporated reported a 2009 first quarter net loss of $2,433.2 million, or $6.79 per common share.
Huntington Bancshares Inc. is owned by two Gurus. Charles Brandes owns 695,605 shares as of 12/31/2008, which make up for 0.03% of the $20.68 billion portfolio of Brandes Investment. Arnold Schneider owns 5,809,099 shares, a decrease of 53.08% of from the previous quarter. This position accounts for 3.19% of the $1.4 billion portfolio of Schneider Capital Management.
Buy: President, CEO & Chairman Stephen D Steinour bought 300,000 shares of HBAN stock on 04/22/2009 at the average price of $3.4; the price of the stock has decreased by 4.71% since.
Buy: Director Jonathan A Levy , Buy: Director Don M Iii Casto , Buy: Director Michael J Endres , Buy: Director Gene E Little , and Buy: Director John B Jr Gerlach all bought shares of HBAN stock on 4/22/09; the price of the stock has decreased by 15.63% since.
