Insiders have been buying Sydney Airport (ASX:SYD) and this ASX share

Insiders have been buying Sydney Airport Holdings Pty Ltd (ASX:SYD) and this ASX share. Here's what you need to know…

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Every so often, I like to take a look to see which shares have experienced meaningful insider buying. This is because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its own directors.

A number of shares have reported meaningful insider buying this month. Here are a couple which have caught my eye:

Medical Developments International Ltd (ASX: MVP)

According to a change of director's interest notice, one of this medical device company's directors has been buying shares this week.

The notice reveals that its new non-executive director, Mary Sontrop, bought a total of 18,630 shares through an on-market trade on Monday. Ms Sontrop paid an average of $5.3706 per share, which equates to a total consideration of ~$100,000.

Ms Sontrop has moved quickly to align her interests with shareholders. She was only appointed as a Non-Executive Director last week. The new director has extensive international experience in the biopharmaceutical sector across manufacturing operations, quality, and business integration. During her 28 years with CSL Limited (ASX: CSL), she was an integral part of CSL's globalisation through a series of major acquisitions.

Interestingly, this is just the latest in a number of former CSL executives to join the company. Late last year ex-CSL execs Brent MacGregor and Gordon Naylor joined as CEO and Chairman, respectively.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

A change of director's interest notice reveals that one of this airport operator's directors almost doubled their holding last week. According to the notice, non-executive director Abigail Cleland picked up 17,070 shares through an on-market trade on Thursday of last week.

The release reveals that Cleland paid an average of $5.83 per share, which equates to a total consideration of ~$99,500. This lifted her holding to a total of 34,983 shares.

With the Sydney Airport share price still down 21% from its 52-week high, it appears as though this director sees value in its shares.

Once broker that would agree is Goldman Sachs. It currently has a buy rating and $6.73 price target on Sydney Airport's shares.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Medical Developments International Limited. The Motley Fool Australia has recommended Medical Developments International Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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