Insiders Load Up on These 2 Stocks – Goldman Sachs Thinks Only One Is Worth Buying

Insider buying is one metric many investors watch closely. Corporate executives and board members usually understand their businesses better than outside investors, and when they spend their own money buying shares, it can reflect confidence in the company’s outlook. While insiders may sell stock for many personal or financial reasons, purchases are often viewed as a stronger display of conviction.

Academic studies have repeatedly found that insider purchases can have predictive value for future stock returns. Research from the University of Michigan’s H. Nejat Seyhun found that aggregate insider buying activity predicted a meaningful portion of future market returns, while later studies from researchers Josef Lakonishok and Inmoo Lee also concluded that insider purchases tend to be more informative than insider sales. More recent research has continued to support the idea that insider buying can provide useful clues, particularly in smaller companies and during periods of market uncertainty.

Of course, insider buying is not a crystal ball. Some executives buy right before the stock takes off, while others seem to have the same market timing skills as a guy buying meme stocks. Still, when the people running the company are reaching into their own wallets, investors tend to pay attention.

Against this backdrop, we used the Insiders’ Hot Stocks tool at TipRanks to look up two stocks that insiders are snapping up – but when we checked in with the analysts at Goldman Sachs, we found that they did not entirely agree. Here are the details.

Affiliated Managers Group (AMG)

The first stock we’ll look at is Affiliated Managers Group, a Florida-based financial services firm that works through a network of partners and affiliates, providing a full range of asset management services. The company follows a basic strategy that is simple to articulate: it invests in a wide array of high-quality firms and allocates its portfolio resources into high-growth areas, all to generate both long-term value and steady returns for shareholders.

At the end of this past March, AMG held a total of $882 billion in aggregated assets under management. These assets were deployed across private markets, liquid alternatives, and an array of differentiated long-only investment strategies. The company’s portfolio is split between two strategies: Alternative, 58% of the total, and Differentiated Long-Only, which makes up 42%. The first strategy encompasses the private markets and liquid alternatives; the second is mainly equities.

AMG provides its affiliate network with a high level of autonomy and gives them a direct stake in the larger partnership’s success through meaningful equity interests. The arrangement has proven successful, especially in providing affiliates with access to the larger network’s resources in support of their own long-term goals.

This asset management company reported its fiscal first-quarter 2026 results earlier this month, highlighting record assets under management of $882 billion. Revenue climbed nearly 10% year-over-year to $544.9 million, narrowly missing Wall Street expectations by about $356,000. Meanwhile, the company posted Non-GAAP EPS of $8.23, beating expectations by $0.16.

On the insider track, G. Staley Cates took up a post on the company’s Board of Directors in April – and in May, he purchased 1,500 shares of AMG stock. Cates spent nearly $460,000 on the stock and currently holds 6,405 shares in the company.

That vote of confidence also lines up with the bullish stance of Goldman Sachs analyst Alexander Blostein, who sees plenty of benefits to owning this stock.

“As AMG benefits from the acceleration in organic growth, scaling of EBITDA-share affiliates, and higher performance fees, we see core EBITDA growing 27% in 2026 and remaining >12% in 2027-28. Buybacks will remain an important part of the growth algo, evidenced by the robust start in 1Q (~$190mn repurchased in 1Q), putting the firm on a path to surpass its typical $500mn baseline buyback for the year. As such, we think AMG will put up closer to 40% EPS growth in 2026 (relative to >30% management guide), followed by ~20% growth in 2027/2028. Against this, the stock remains attractively priced at ~7X P/E on our updated 2027 EPS estimates,” Blostein opined.

Summing up his position, the analyst rates AMG stock as a Buy, with a $405 price target that implies a one-year upside potential of 34%. (To watch Blostein’s track record, click here)

All five of the recent analyst reviews here are positive, giving the stock its unanimous Strong Buy consensus rating. The shares are trading for $301.28, and the $404.80 average target price practically matches the Goldman view. (See AMG stock forecast)

GE Healthcare Technologies (GEHC)

Next on our list of insider buys is GE Healthcare Technologies, a company that has been operating independently since 2023; prior to that, GEHC was the healthcare arm of the multinational giant, GE. GE Healthcare’s business is medical technology, and it acts as a provider of medical devices, especially in the imaging and ultrasound fields; digital solutions to bring medical networks to life; and even systems refurbishment for such big-ticket items as CT and MRI scanners, mammography machines, PET scanners, and more.

The company is also an important provider of AI services and AI-enabled devices in the medical field, addressing such issues as clinician burnout, workflow optimization, and cost of care – all by applying AI technology to these problems. Smarter devices and greater operational efficiencies come along with AI, and allow clinicians to integrate patient treatment insights as they work through a case. GE Healthcare Technologies has been recognized in the industry as a leader in applying AI technology to networked medical devices.

Finally, GE Healthcare Technologies provides a wide range of supportive services in high demand among medical practitioners. The company offers solutions to ease the path of patients receiving medical services; to clarify medical pricing; to provide flexibility in budgeting and purchasing decisions in medical facilities; and to embed technology, from AI to networking, into the medical field. Services are provided on-site, or through customer centers, and are available throughout the lifetime of the company’s technology and products.

We should note, however, shares in GEHC are down ~25% so far this year. The stock took its hardest hit after reporting the 1Q26 results; in that report, GE Healthcare Technologies missed the mark on earnings, and cut back its forecast for the full-year 2026 EPS.

Looking at the report, we see that revenue came to $5.1 billion, up 7.4% from the prior year and $103.4 million better than had been expected. As noted, earnings missed the mark – the non-GAAP EPS of $0.99 was 6 cents lower than had been forecast. And, also as noted, the company scaled back its full-year projection for EPS, cutting it from the range of $4.95 to $5.15 per share down to a new range of $4.80 to $5.00 per share.

One insider appears to believe the selloff went too far. Seeing the decline as a buying opportunity, Board member H. Lawrence Culp Jr. invested $5 million to purchase 80,805 shares of GEHC stock, boosting his total position to 151,207 shares. He made the purchase during the first week in May.

Goldman Sachs’ David Roman, however, takes careful notice of the headwinds facing the stock.

“Over the past year, our view has been weighed down by sustained (but moderating) China headwinds as well as unforeseen tariff and supply chain disruption — all of which has offset the innovation story. In a scenario where supply-chain and other cost related pressures moderate, GEHC shares likely react favorably on a short-term basis; however, we think the P/E multiple sees a structural re-basing lower given the magnitude of P&L sensitivity to macro dynamics,” Roman noted.

“Looking forward,” the analyst continued, “we think the debate shifts from almost uniform focus on organic revenue growth to a balance of revenue performance as well as external factors influencing the P&L. While the company has made progress in advancing its pipeline and overcoming discrete headwinds (in markets like China), the business is yet to break out to a sustained mid-single-digit range.”

Summing all of this up, Roman sets a Neutral rating on GEHC shares, and his $65 price target implies a nominal 5% gain in the coming year. (To watch Roman’s track record, click here)

There are 12 recent analyst reviews on record for this stock, and the 8-to-4 split, in favor of Buys over Holds, gives the shares a Moderate Buy consensus rating. The stock is currently trading for $61.70, and the $82.36 average price target indicates room for a 33% upside potential in the next 12 months. (See GEHC stock forecast)

Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.