Die Merck Gruppe ist ein globales Unternehmen, das in verschiedenen Sparten der chemischen, pharmazeutischen und biotechnologischen Industrie tätig ist. Die Unternehmensstrategie basiert auf drei Säulen: Innovation, Kompetenz und Internationalität. Die Pharma-Sparte des Unternehmens ist auf die Entwicklung, Produktion und Vermarktung von verschreibungspflichtigen Arzneimitteln spezialisiert. In diesem Bereich bietet Merck sowohl patentgeschützte Medikamente als auch innovative biologische Behandlungsoptionen an. Hierzu gehören beispielsweise Krebsmedikamente, Medikamente gegen Multiple Sklerose oder auch eine Vielzahl von Schmerz- und Entzündungshemmern. Neben der Entwicklung von verschreibungspflichtigen Medikamenten verfügt Merck auch über eine Sparte zur Herstellung rezeptfreier Medikamente und Nahrungsergänzungsmittel. Eine weitere wichtige Sparte von Merck ist die Sparte Life Science. Diese beinhaltet die Entwicklung und Herstellung von Labortechnologien, Biopharmazeutika und Forschungsinstrumenten. Hierzu gehören beispielsweise Zellkultursysteme oder auch High-Tech-Laboreinrichtungen zum Nachweis von Proteinexpressionen. Die Life-Science-Sparte von Merck ist führend in der Biotechnologie und bietet Forschungslösungen für Industrie und Wissenschaft. Darüber hinaus ist Merck auch in der Geschäftseinheit Performance Materials aktiv. Hier produziert das Unternehmen unter anderem Flüssigkristalle, organische Leuchtdioden (OLED) oder High-Tech-Werkstoffe für die Halbleiterindustrie. Die Performance-Materials-Sparte von Merck gilt als der weltweit führende Anbieter von High-Tech-Materialien. Ein weiteres Standbein von Merck sind die Consumer Health-Produkte. Dies umfasst die Produktion und Vermarktung von rezeptfreien Medikamenten zur Selbstmedikation, die in Apotheken und Drogerien erhältlich sind. Hierzu gehören beispielsweise Schmerzmittel, Husten-, Schnupfen- und Heuschnupfenmittel oder auch Nahrungsergänzungsmittel. Die Consumer-Health-Produkte von Merck werden weltweit vertrieben und haben einen hohen Bekanntheitsgrad. Das Geschäftsmodell von Merck ist auf langfristige Erfolge und stabiles Wachstum ausgelegt. Innovationen und die Zusammenarbeit mit Experten und Partnern sind dabei von großer Bedeutung. Merck setzt auf eine starke international Ausrichtung und die Erschließung neuer Märkte. Dabei steht das Unternehmen auch im Austausch mit der Gesellschaft und setzt sich für eine nachhaltige Entwicklung ein. Zusammenfassend bietet Merck innovative und hochwertige Produkte und Dienstleistungen in den Bereichen Pharma, Life Science, Performance Materials und Consumer-Health an. Die Expertise des Unternehmens liegt in der Entwicklung neuer Technologien und biotechnologischer Verfahren. Ziel des Unternehmens ist es, bestehende Märkte zu bedienen, aber auch neue zu erschließen, um somit langfristiges Wachstum zu erreichen.
Merck InsiderkäufeLast week, Merck stock 0 was traded by insiders once. The difference is 1,00 EUR.Last month, Merck stock was traded 0 times by insiders. The difference is 1,00 EUR.Last year, Merck stock was traded 0 times by insiders. The difference is 1,00 EUR.
What are insider purchases?
Insider purchases and insider sales can be classified under the term Insider trading (auch Insidertrades) zusammengefasst werden. Im Englischen wird häufig der Begriff Directors Dealings used.
These are purchases and sales of shares by persons to whom insiderinformations to the corresponding company are available.
But who is considered an insider anyway?
An insider knows about not publicly known circumstances surrounding listed companies that may have a significant impact on the price - for example, because he has obtained this inside information due to his profession.
For example, insider information may be knowledge that a listed company is about to take a corporate action or acquire a significant shareholding.
An insider is not necessarily a person with a professional connection to the issuer. An insider may also be close family members and persons of the same household.
Insider trading is prohibited
It is important to understand that insider trading forbidden is.
A listed company must disclose all information that could affect its share price, publish as soon as possible . Sollte ein Insider anhand dieser noch nicht veröffentlichen Informationen Aktien kaufen bzw. verkaufen, ist das strafbar.
Thus, it should be clear that the published insider trades are generally not trades which are short-term significant influence on the share price of a listed company have.
Rather, insider trades are about an insider learning about an positive or negative future development of the company emanates.
The relativization of (legal) insider trades does not mean, however, that they are no influence on the course can have.
Duties of insiders
If you, as a member of the management board, supervisory board or executive officer of a listed company, buy or sell shares in your own company on the basis of inside information, you must disclose this to the company. immediately (within 3 business days).
The company must then use this information publish as soon as possible (within 2 business days).
The same also applies to family members of the aforementioned persons and other parties involved, such as, among others, legal entities closely related to the insider, entities acting in a fiduciary capacity (e.g. foundations) or partnerships.
Since 2020, the reporting limit has been 20.000 Euro je Kalenderjahr (vorher 5.000 Euro).
The above information refers to German companies.
How does the Eulerpool Insider Buying Tool work?
With the Eulerpool Insider Buying Tool you can easily find out which insider buys there are at German companies in the last 7, 30 or 365 days. Insider purchases of shares from the USA will be added in the near future.
You have in principle 2 Möglichkeiten to use the insider buying tool:
- Search for insider purchases in a specific stock in the period 7, 30 or 365 days
- Search for all insider purchases in the period 7, 30 or 365 days
Option 1: Search for insider buying on a specific stock
If you want to check whether it is possible with a certain share there has been insider trading recently, you can search for it using the name of the stock or the ISIN of the stock.
Option 2: Search for all insider purchases
If you want to know what insider buys there are at all German stock corporations If you have been buying insiders lately, Eulerpool's insider buying tool will help you as well.
Simply go to the page and select the desired period and you will see all the insider purchases in the table. But how to read the table?
This is how to read the table
The table consists of the following 6 columns:
- Purchase volume
- Sales volume
With the name (issuer) and the ISIN you can uniquely identify a share. With a click on both parameters, you still get more information on insider trading in the selected share. But more on that later.
Purchase and sales volume
At Purchase and sales volume you can see how much volume of shares has been created by insider trades. For example, if a share is worth 100 euros and an insider has bought it 100 times, you will see a value of 10,000 euros in the purchase volume column. If an insider has sold shares for the same amount, you will see the 10,000 euros in Sales volume.
Die Difference results from the purchase and sale volume. If, in the case of a share, a volume of 100,000 euros was bought as part of insider trading, but 50,000 euros were sold, you will see a green value of 50,000 euros in the difference. If the difference is negative, you will see a red number with a minus sign in front of it. In this case, more shares were sold than bought in the case of insider trades.
Die Quantity indicates how much insider trading has taken place at the respective company. Both purchases and sales are included here.
Now you know how to read the table. If you use option 2, however, you still have to enter the results in the table. . Beim Insiderkäufe Tool von Eulerpool kannst du alle Spalten from top to bottom (or upside down) sort
For example, if you click on Purchase Volume, the results will be displayed in descending order by purchase volume as leading criterion sorted. If you click on it again, the sorting changes from descending to ascending.
The same is possible with all other columns. Whenever you click on the corresponding column, it becomes the leading criterion when sorting the results.
So you can look at the results on insider trading change as you like according to your wishes. If you have found a stock that stands out for you, e.g. because of a high number of insider purchases or a high difference, you will of course want to gather more information. As already briefly mentioned, the insider buying tool from Eulerpool can help you with this.
Further information on insider trading
With a Click on issuer or ISIN you will be taken to a page with further information forwarded to the company. Besides the business model and the share price of the company, you can see how much insider trading has happened in the last 7, 30 and 365 days (number, difference).
Als special highlight you can use the table Messages see who exactly made the insider trade. In addition to the person reporting the trade, you can see the volume of the trade, the position of the insider (e.g. close relationship, board member), the share price at the time of the trade, the number of shares traded and the date of the trade. So you can see all insider purchases also in detail comprehend.
Now you can go into further research and start with qualitative information find out what exactly led to the insidertrade.
Where does the insider trading data come from?
Finally, the answer to an important question. We obtain the data from the Eulerpool Insider Buying Tool directly from the Federal Financial Supervisory Authority (BaFin).
For insider purchases of shares from the USA, we will in future refer to the data of the United States Securities and Exchange Commission (SEC) , dem US-amerikanischen Pendant der BaFin zurückgreifen.
So, as with the Share finder on the best possible data quality.
Why insider trading is prohibited and how you can still profit from it as an investor
In the section What are insider purchases? we explained, among other things, the obligations of insiders. But why does insider trading actually have to be reported?
Insider trading can influence the share price
To repeat: In the case of listed companies, any information that could influence the share price must be published. This also applies to quarterly figures and the like. clear for all. But insider buying can also influence a share price.
Let's imagine that the CEO of a company that has recently reported excellent figures suddenly sells a large position of his own shares. If you are invested in this company, the sale of shares by the CEO would be in any case a relevant Information for you. It is possible that the sale is an indicator of weaker performance in the future or other ills in the company. After all, if the CEO doesn't have the best information about the company, who does?
If the CEO did not have to disclose his sale now, you will realize why (undisclosed) insider trading is prohibited. As a result of the information advantage over investors, the CEO has a unfair advantage , welches durch die unverzügliche Offenlegung is eliminated.
Of course, it is also forbidden and even punishable by law if, for example, the CEO, due to Ad hoc information buys or sells shares. If, for example, this is done by a impending insolvency knows, but this is not yet known to the public, he may not sell shares.
In principle, in Germany also around the publication of the quarterly figures and for the period of the IPO. insider trading is prohibited.
To summarize, without these mechanisms, the functioning of the capital market would be jeopardized.
You can profit from insider trading
Since insider trading must be made public, you as a private investor can profitieren . Insiderkäufe stellen Kaufindikatoren und Insiderverkäufen stellen Verkaufsindikatoren dar.
However, it is important that a decision in favor of or against a share should never be made solely on the basis of an insider trade. At the end of the day, the pure fact of the purchase or sale is all that matters. The Why you will only find out later or, in many cases, not at all.
It should also be borne in mind that managers often biased towards their own company. Accordingly, they may see the company's future more positively than it actually is and buy shares in the company on this basis. In such a case, there is no insider information at all. It may also be the case that executives want to positively influence the company's share price by deliberately buying shares.
Who is the insider?
Another important question when assessing an insider trade is: Who is the insider in the first place? Here, the following can basically be stated: The more senior the insider, the more relevant the insider trading. The reason for this is logical, because a higher ranking person will usually have the best information.
Assess insider buying and selling differently
To conclude this chapter, we would like to highlight what we consider to be an important point. Namely that Purchases and sales not equal are to be considered.
Insider buying is a (slightly) positive indicator
We can ask ourselves the simple question of why we buy a stock. The answer in 99.9% of cases is because we are buying a positive Rendite want to achieve. And probably, in a large part of the cases, executives also buy exactly for this reason Shares.
As already mentioned in the previous section, here must therefore be not necessarily groundbreaking insider information is available.
However, an insider purchase can still be a (strongly) positive indicator. But also only if the insider buys the shares buys with its own money. Share or option packages as part of compensation, on the other hand, are not a positive indicator, as no conscious decision is made for the company in this case.
On an even more positive note, a company where there has recently been there have been several purchases by one person or purchases by several persons. For such a company, a deeper analysis makes sense. You can find these companies with the insider buying tool from Eulerpool.
Insider selling is a (strongly) negative indicator
The situation is different for sales. Of course, it can also be rational reasons , wie z.B. eine bessere Diversifikation des eigenen Portfolios oder eine große private Investition geben.
But for insider sales, it's probably worth it to look more closely than in the case of insider purchases. Especially when the company is actually doing well on the outside.
It is also important to know, how many treasury shares the insider sells. At 5%, it is of course less relevant than at 50%.
For example, when a CEO 50% seiner eigenen Aktien sold, then you should look more closely in any case.
Always assess the context
But here too. Without a context the whole thing is difficult to judge. The whole thing becomes clear with an example from the near past.
Elon Musk has sold billions worth of stock as CEO of Tesla. Without context, this headline would probably mean a (strongly) negative development for the Tesla share. However, since the sale was made to finance the Twitter acquisition, the sale is seen in a different (more positive) light.
This is not intended to make any statement about the sense or nonsense of these measures, but to illustrate how strongly the context classifies insider trading.
What does science say about insider trading?
To conclude the article, let's briefly discuss what the Science says about insider trading. After all, insider trading has already been studied in a large number of scientific papers.
Basically, it can be stated that insider trades provide information about can deliver future returns. On average, insider purchases have a greater positive impact on the share price than insider sales have a negative impact.
Also, science confirms that insider trades of higher ranking persons have a stronger impact on the share price.
Also only logical. The bigger the trade, the more relevant. The more people make the trade, the more relevant.
Finally, however, a new piece of information from science for this article. It has been established that insider trades for smaller companies have a greater impact on the share price than at larger companies.
You can find further scientific information e.g. at 2iQ Research und The Evidence-Based Investor.
An insider is therefore not necessarily a person with a professional connection to the issuer. An insider can also be a close family member or a person from the same household.