Wall Street Missed This Medtech Bet—Insiders Just Went All In

This Week's Top Insider Moves That Matter

Paid subscribers saw this first - you’re seeing it now.

If there’s one word for this week, it’s dislocation.

Tech roared, led by semiconductors, software, and infrastructure. Financials followed suit with banks, credit, and insurers climbing across the board. But the rally wasn’t universal—healthcare and energy posted broad weakness, with pharma and oil names dragging despite strength in medical devices and diagnostics.

Insiders noticed.

Executives in tech and financials took profits, while high-conviction buyers emerged in healthcare and industrials. But the boldest plays? Medtech. As markets leaned risk-on, insiders at a beaten-down surgical device maker doubled down—just as the broader sector caught a bid.

Momentum’s back. But insiders? They’re already looking past the headlines. Let’s break it down.

Biggest Insider Sales

📦 BigBear.ai Holdings $BBAI ( ▲ 21.31% ) – $78.5M Exit by Private Equity

• Who’s Selling? Pangiam Ultimate Holdings, LLC (10% Owner)

• What They Sold: 27.4M shares at $2.86

• Total Value: $78.5M

• Why It Matters: This wasn’t a trim—it was a near-total exit, with just 197K shares left. When a major stakeholder bails on an AI play, it raises serious questions about confidence in the near-term upside.

🎯 Apollo Global Management $APO ( ▲ 0.06% ) – $67.7M From the Top

• Who’s Selling? Leon D. Black (See remarks)

• What He Sold: 607,725 shares at $111.40

• Total Value: $67.7M

• Why It Matters: Black remains a massive holder, but this large-scale sale is impossible to ignore. Could be rebalancing—or quietly bracing for turbulence.

🏌️ Acushnet Holdings $GOLF ( ▼ 1.43% ) – $62.5M Tee-Off by 10% Owner

• Who’s Selling? Misto Holdings Corp. (10% Owner)

• What They Sold: 935,907 shares at $66.78

• Total Value: $62.5M

• Why It Matters: Misto still holds 30M shares, but this swing hints at de-risking—or a quiet forecast of softer demand ahead.

🛒 BJ’s Wholesale Club $BJ ( ▼ 0.42% ) – $32M CEO Offload

• Who’s Selling? Robert W. Eddy (President & CEO)

• What He Sold: 280,400 shares at $114.31

• Total Value: $32.0M

• Why It Matters: A hefty 40% reduction in total holdings. CEO sales this deep are rarely random.

✈️ FedEx Corp $FDX ( ▼ 1.92% ) – $25.1M From the Chairman

• Who’s Selling? Frederick W. Smith (Executive Chairman of the Board)

• What He Sold: 123,850 shares at $202.85

• Total Value: $25.1M

• Why It Matters: While a small slice of his total ownership, the dollar size still makes this a signal worth watching—especially ahead of shipping sector earnings.

While sellers made headlines this week, it’s the buyers that tell us where the smart money wants to be.

Let's pivot to the insiders who opened their wallets—and their conviction.

Biggest Insider Purchases

🏛 Apollo Global Management $APO ( ▲ 0.06% ) – $67.7M by Lb 2018 GST Trust

• Who’s Buying? Lb 2018 GST Trust (See Remarks)

• What They Bought: 607,725 shares at $111.40

• Total Investment: $67.7M

• Why It Matters: This trust showed up big—and fast. With no prior trades on record, this looks like a fresh, high-conviction position from a strategic entity closely tied to firm leadership.

🎰 Wynn Resorts $WYNN ( ▲ 0.65% ) – $27.8M Double Down by Fertitta

• Who’s Buying? Tilman Fertitta (10% Owner)

• What He Bought: 400,000 shares at $69.68

• Total Investment: $27.8M

• Why It Matters: Fertitta bought another pile of WYNN after adding shares last month at a higher price. That’s not a sell signal—it’s a dip-buy from a guy who knows casinos better than most.

🎬 Lions Gate Entertainment $LGF.A ( ▲ 0.58% ) – $17.8M from Liberty 77

• Who’s Buying? Liberty 77 Capital L.P. (10% Owner)

• What They Bought: 2.64M shares at $6.75

• Total Investment: $17.8M

• Why It Matters: They’ve been building this stake quietly for months—but this week’s purchase is their biggest yet. The media playbook may still have a few twists left.

🔬 Staar Surgical $STAA ( ▲ 0.84% ) – $13.6M from Broadwood Partners

• Who’s Buying? Broadwood Partners, L.P. (10% Owner)

• What They Bought: 845,220 shares at $16.12

• Total Investment: $13.6M

• Why It Matters: This is the third Broadwood buy in under two weeks. They're clearly not worried about the stock sliding—they’re averaging down hard.

🛢 CVR Energy $CVI ( ▲ 0.6% ) – $11.1M from Carl Icahn

• Who’s Buying? Carl Icahn (10% Owner)

• What He Bought: 665,449 shares at $16.72

• Total Investment: $11.1M

• Why It Matters: Icahn isn’t new to CVI—but he’s still buying. It’s a continuation move, not a reversal—but it keeps his thesis firmly alive.

🔬Insider Under the Microscope: Broadcom

This week, all eyes turn to Staar Surgical — a stock that’s quietly drawing major insider attention just as the market seems to have moved on.

Broadwood Partners, L.P., a long-time holder and now 10%+ owner, didn’t just nibble. They filed three separate Form 4s in the span of nine days, scooping up over 1 million shares and lifting their stake to more than 25% of the company. That’s not portfolio rebalancing.

Why now? STAA’s been in the doghouse — the stock is down nearly 50% over the last six months, dragged by weakness in China. But zoom out, and the story gets a lot more interesting. While China ICL revenue collapsed, ex-China markets grew 13% in 2024, led by strength in the U.S., Europe, and Japan. Insiders are betting that once China stabilizes (likely in 2H 2025), STAAR could snap back hard.

Behind the scenes, there’s a quiet transformation happening. A new CEO (Stephen Farrell) is tightening cost controls and restructuring leadership. A presbyopia-correcting lens is gaining traction in Europe. And the company is forging new partnerships with high-volume U.S. clinics, betting big on EVO ICL’s long-term superiority over LASIK.

Add in $230M in cash, no debt, and insiders with deep medtech roots doubling down — and you’ve got the makings of a sleeper rebound play. Wall Street is focused on the latest miss. Broadwood’s playing the long game.

With expectations reset, any improvement — China, margins, sentiment — could send this name moving fast. When the people closest to the company start backing up the truck, it’s worth watching.

👀 This was just one of five major trades we flagged this week.
Access+ members saw the rest — as they happened, not after the market moved.

✅ Full daily coverage (Mon–Thurs)
✅ Insider buy-side trades, cluster alerts, and conviction signals
✅ Early positioning — before headlines, Reddit, or CNBC

Upgrade to Access+ — $1.63/day