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8 Health Care Stocks Insiders Are Bullish on

Stocks in this article: CELG SYK PRGO EW BSX UTHR SIRO

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK ( Insider Monkey) -- Insider trading based on material non-public information is illegal. But recent prosecutions indicate that insider trading is rampant on Wall Street.

Luckily, ordinary investors can benefit from these activities simply by imitating the purchases of corporate insiders. Academic studies have shown that imitating insider purchases is profitable, especially when there are several insiders buying around the same time.

Below we compiled a list of health care stocks that insiders are bullish about. All companies have at least $2 billion market cap and were purchased by at least one insider in the past month. The market data is sourced from Finviz.

Celgene (CELG) is a global biopharmaceutical company. CELG was bought by one insider during the past month.

On Dec. 5, Ernest Mario bought 1000 shares at $61.4 and another 1000 shares at $61.3. Mario also bought 2000 shares at $63 on Nov. 2. It seems Mario knows when to purchase the stock as CELG is now trading at $66.85 per share. Bill Miller's Legg Mason Capital Management had $154 million invested in CELG.

Stryker (SYK) is a medical technology company. SYK was bought by one insider during the past month. Roch Doliveux bought 1000 shares at $47.01 on Nov. 21.

SYK's price increased more than $2 per share in one month. The stock is trading at $49.62 per share today. Earlier in August, another director Allan Gloston also bought 500 shares at $46.9852. Steven Cohen's SAC Capital Advisors had $33 million invested in SYK at the end of September.

Perrigo (PRGO) develops, manufactures and distributes over-the-counter and generic prescription pharmaceutical products. PRGO was bought by one insider during the past month. Thomas Farrington purchased more than 2000 shares at $98.38 per share on Dec. 12.

Now the stock is trading at $100.96 per share. In August, Farrington sold over 8000 shares of PRGO in total at prices ranging from $88.861 to $96.271. Chuck Royce is also bullish about PRGO. His Royce & Associates reported to own $86 million of PRGO as of Sept. 30.

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