Insider Trades: Directors are buying shares in these 9 ASX 200 companies

A summary of noteworthy S&P/ASX 200 director transactions between 14-21 March.

Top large cap insider buys

Interesting observations

Harvey Norman: Mr Harvey loads up more

A week ago, we noted how "in March alone, co-founder and executive chairman, Gerry Harvey purchased six parcels worth a collective $20.7 million."

Since then, he's added four more parcels worth $29.2 million.

In the grand scheme of things, the ten parcels have grown his existing stake by about 3.4% to 393 million shares or 31.6% of the company.

Telix Pharma: Moving sideways

Telix shares have held up relatively well amid recent market volatility, up 8.2% in the past week and up 44.7% in the past twelve months.

Non-executive director Tiffany Olson has been the only director to have made purchases in the last 11 months. The three purchases include:

• 16 Mar 23: $343,385 at $6.69 per share

• 12 Dec 22: $73,255 at $6.70 per share

• 3 Jun 22: $135,665 at $4.11 per share

Interestingly, Bell Potter has a BUY rating for the stock with a $9.00 target price.

"In our view the label expansion (for Illuccix prostate cancer imaging agent) is priced in, i.e. no further increases to revenue forecasts at this time. The next major catalysts for the stock includes the March quarter cash where we expect the company to deliver its first quarter of positive cash from operations."

Telix Pharma 12-month price chart (Source: Market Index)

Aurizon: Stabilising after post earnings slump

Aurizon shares slumped on half-year earnings, down 11.65% between 13-15 February. The result materially disappointed with underlying EBITDA and net profit missed consensus expectations by 11.4% and 33.2% respectively.

The result was weighed by adverse weather impacts as well as softer coal volumes, which analysts expect to stabilise over the medium term.

Post earnings, the average target price among 14 major brokers was cut by 5.5% to $3.73.

Aurizon is starting to bottom around the $3.25 level and trying to push above its recent trading range.

Aurizon 12-month price chart (Source: Market Index)