(Bloomberg) -- The chief executive of Ambu A/S added to his stake in the Danish medtech company this week and once again the market rewarded him with a bump in the stock price.
Juan Jose Gonzalez snapped up 137,600 shares, adding to the 200,000 he already had acquired since taking over in May 2019. On all five occasions Ambu has disclosed his purchases, the share price has subsequently risen. The CEO has now made a profit of about $3.4 million on the investments, based on Thursday's closing price, according to calculations made by Bloomberg.
“It's fair to say that the market is looking much more closely at insider trading at Ambu than at other established companies and we can also see that from the share-price reaction,” Soren Lontoft Hansen, an analyst at Sydbank A/S, said by phone.
Ambu declined to comment on the CEO's stock purchases. Gonzalez said in an interview last month that the market should be prepared for share price volatility to continue over the next three to four years.
“Ambu is only on its way to establish itself and is in the process of creating the market for its single-use scopes,” Hansen at Sydbank said. “When the CEO buys so many shares, it shows he's confident that the company will succeed.”
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