| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 11Developing evidence | 100.0% (11/11) | 54.5% (6/11) | +0.8% | +1.0% | -6.0% |
| 20D | 11Developing evidence | 100.0% (11/11) | 36.4% (4/11) | -0.9% | +0.4% | -9.7% |
| 60D | 11Developing evidence | 100.0% (11/11) | 36.4% (4/11) | -1.7% | -2.1% | -29.9% |
| 120D | 10Developing evidence | 100.0% (10/10) | 50.0% (5/10) | +0.8% | -1.8% | -30.3% |
COMPANY RESEARCH
Arjo AB (publ)
ARJO-B.ST · Sweden · Healthcare · Medical Distribution
INSIDER SIGNAL
Insider activity score：47.6 / 100
4 insiders · 5 purchase events · €61k net purchases
Europe #734 · Sweden #186
WHY THIS SIGNAL?
Score anatomy
Each bar shows the contribution to the current score; the weights and formula stay unchanged.
Cluster+21.0 / 35
How many distinct insiders bought in the cluster
Purchase size+17.8 / 25
Purchase value relative to company size and liquidity
Role+18.0 / 20
The seniority and relevance of participating insiders
Recency+0.0 / 10
How recently the purchases occurred
Conviction+6.7 / 10
How clearly buying stands out from other activity
What is holding the score back?
- ⚠ Buyer breadth is moderate · fewer than 4 distinct filers
- ⚠ Purchase activity is becoming less recent
- ⚠ Buying conviction is reduced by concurrent selling
- ✓ Strong insider role · cfo involved
The role contribution uses the inverted role input of the current European model.
Buying concentration
50%
Largest buyer：Eva Maria Cecilia Sandell Elmstedt · 666k SEK
Gross qualified purchase transaction-line value：1.34m SEK
The headline € total is net buying for the screen; this module uses gross qualified purchase transaction-line values in the filing currency, so the amounts can differ. The current 15-day buyer-breadth input counts distinct buyers; value concentration is disclosed separately here.
This is a ranking under the current European screening rules—not a probability of gain, return forecast, or buy recommendation.
Key purchase quotes (filing currency)
| Filer | Price per unit | Trade date |
|---|---|---|
| Eva Maria Cecilia Sandell Elmstedt | 26.65 SEK | Jul 15, 2026 |
| Jonas Cederhage | 24.04 SEK | Jun 2, 2026 |
| Ulrika Dellby | 25.82 SEK | Apr 23, 2026 |
Model details
Cluster breakdown (does not change the score)
- 15-day buyer breadth (count)
- 2 distinct reported filers
- Peak time window
- 2026-05-13 to 2026-05-13
- Current breadth input
- 0.600 (capped at 4+ buyers)
- Buyer independence
- Not yet measured; related-party fields are not cross-market comparable
What the filings show
- 🟢 Recent eligible purchase
Eva Maria Cecilia Sandell Elmstedt · 666k SEK · Price 26.65 SEK · Jul 15, 2026 - 🟢 Eligible purchase
Jonas Cederhage · 120k SEK · Price 24.04 SEK · Jun 2, 2026 - 🟢 Large eligible purchase
Ulrika Dellby · 258k SEK · Price 25.82 SEK · Apr 23, 2026 - 🟡 4 remaining qualified transaction line(s) across 4 disclosure(s)
- 🔴 1 other transaction line(s) are not counted as discretionary-buying evidence; 0 have zero price
Insider vs stock price
4 purchase day(s), 7 purchase line(s) in the 180-day window. 1 sale day(s), 1 sale line(s).
Daily close (SEK)Day with an insider purchaseTwo or more insiders the same dayDay with an insider sale
Markers sit on the closing price of the transaction day. They show when insiders traded, not the price they paid or received. "Since" compares that day's close with the last close shown; it is what happened at this company, not a forecast.
If you had followed the purchase
Each row starts on the first close on or after the day a purchase was made public, the earliest a reader could have acted, and ends on the last close shown above.
| Made public | Insiders | In this stock, now | In the median peer stock, now | Difference |
|---|---|---|---|---|
| 2026-04-23 | 1 | 1,076 +7.6% | 913 −8.7% | +163 +16.3 pts |
| 2026-05-13 | 1 | 1,094 +9.4% | 920 −8.0% | +174 +17.4 pts |
| 2026-05-15 | 1 | 1,091 +9.1% | 928 −7.2% | +163 +16.3 pts |
| 2026-06-02 | 1 | 1,127 +12.7% | 930 −7.0% | +197 +19.7 pts |
| 2026-07-20 | 1 | 1,000 +0.0% | 950 −5.0% | +50 +5.0 pts |
5 of 5 disclosure day(s) ended ahead of the median peer stock.
Close to close, before costs, taxes, dividends and currency moves. The peer is the median of the other stocks on the same exchange for which this site holds prices (277 here), not an index. This is what happened, not a forecast: across all purchases on this site the typical gap is close to zero.
Insider timeline
2 insiders bought on the same day, 13 May: 1 CFO, 1 Board member. 1 of them bought again later. 1 more bought afterwards. The share closed at 24.84 that day and at 27.18 most recently (+9.4%). That week 211 companies across Europe disclosed insider purchases, an ordinary week (6 of the last 26). 1 of the buyers also disclosed a sale in the window.
Tap an item for what it means.
●A purchase: the bigger the dot, the more was bought
Each dot is one insider's purchases on one day. The dot's area follows the amount: the largest purchase here gets the largest dot. Hold the pointer over a dot to see the date and the amount.
×A sale
A cross is one insider's sales on one day. People sell to pay tax, to cash in share awards or to hold less of one company, so a sale says less than a purchase does. When someone bought and sold on the same day, the cross sits beside the dot. The totals are under “Purchases against sales” below.
▮Purple band: several insiders bought within 15 days
The band marks the stretch with the most different buyers: at most 15 days long and at least two people. Here it is 13 May, with 2 insiders. Only the strongest stretch is marked. Several people deciding the same thing is harder to explain by one person's private reasons, but insiders often buy together just after a closed period ends, so compare it with the grey weekly bars.
Blue line: this share's price, +1.0% over these six months
The closing price of each day, from 26.92 on 2026-04-21 to 27.18 on 2026-10-09. The line has no scale; read it for high and low: a dot on a low stretch was bought cheaply, a dot on a high stretch was not.
Dashed line: the typical stock on the same exchange, −9.2%
Taken from the 457 other stocks on the same exchange that this site holds prices for. Each is measured from the first day of the window, and every day the middle one is drawn. It starts where the blue line starts, so the gap between the two is the difference: this share +1.0%, the typical one −9.2%, 10.2 points ahead. It is not an index and not a comparison within one industry.
▂Grey bars: companies across Europe disclosing purchases each week
A taller bar is a week in which more companies disclosed insider purchases. The purple bar is the week of the band above: 211 companies, number 6 of the last 26 weeks. If that week was a peak anyway, buying together is less special than it looks.
This company: insiders buying per month, last 12 months
2Nov
Dec
3Jan
1Feb
Mar
1Apr
2May
1Jun
1Jul
Aug
Sep
Oct
Darker bars are inside the 180-day window above.
Who traded
| Insider | Role | Purchases | Sales | Bought | First purchase | Share price since | Earlier purchases |
|---|---|---|---|---|---|---|---|
| Christofer Carlsson | CFO | 1 | — | 248.3k SEK | 2026-05-13 | +9.4% | fewer than 5 completed |
| Ulrika Dellby | Board member | 1 | — | 258.2k SEK | 2026-04-23 | +7.6% | 9 completed, median −0.9% against peers after 60 sessions |
| Jonas Cederhage | Board member | 2 | — | 169.5k SEK | 2026-05-13 | +9.4% | fewer than 5 completed |
| Eva Maria Cecilia Sandell Elmstedt | Board member | 1 | 1 | 666.2k SEK | 2026-07-15 | +0.4% | 11 completed, median −3.7% against peers after 60 sessions |
Why this score? · Model details
Priority = 100 × Σ(fixed weight × 0–1 rule-based input)
| Factor | Weight | This company input | Point contribution |
|---|---|---|---|
| 15-day buyer breadth (count) | 35% | 0.600 | 21.0 |
| Qualified-buy size | 25% | 0.714 | 17.8 |
| Role informativeness (inverted) | 20% | 0.100 | 2.0 |
| Recency | 10% | 0.001 | 0.0 |
| Buy/sell conviction | 10% | 0.669 | 6.7 |
This is a heuristic ordering under the current rules, not a calibrated return forecast. It explains why candidates rank differently; the public-filing evidence and data limits are shown below.
BULL VS BEAR
Two readings of this buying
The same filings, read two ways. Each line is a fact stored for this company with the number behind it, and appears only when that number crosses a fixed threshold. Neither side is a forecast and no winner is declared.
Since 2026-10-13, neither column has changed. All bull and bear lists, and what followed each line in the past →
Where the evidence comes from
Independent evidence does not object: the purchases themselves carry bull lines (senior executive buying); share price and trading, short sellers were checked and none crosses a bear threshold. No data is held for: company results, company actions.
- The insider purchases themselvesBullsenior executive buying Bearinsiders also sold, latest purchase is old, usual level for this company, buyer's past purchases trailed the benchmark4 checked, under the threshold · 2 missing
- Share price and trading2 checked, under the threshold
- Short sellers1 checked, under the threshold
- Company results2 missing
- Company actions1 missing
Bull case · the buying is informative
- The buyers include the CFO, who sees more of the business than most filers. This site's score gives little or no credit for that: in its backtests purchases by senior executives did no better than other insiders' purchases.Record: after 8,797 earlier disclosures like this, the median 60-session excess return was −3.1%, within 1 percentage point of all comparable disclosures (−3.2%).
Bear case · discount it
- Insiders also sold €60k in the same 180 days, 49% of the amount bought.
- The latest purchase was 94 days ago (2026-07-15). A reporting period has passed since, so what the buyers knew then may already be public.
- Buying at this level is normal here: 4 insiders bought in the previous 180 days and 4 in this one.Record: after 2,869 earlier disclosures like this, the median 60-session excess return was −2.6%, within 1 percentage point of all comparable disclosures (−2.7%).
- The 11 earlier purchases by Eva Maria Cecilia Sandell Elmstedt trailed OMX Stockholm 30 by a median 3.7% over the following 60 trading days.
Evidence still missing
- The company's market value is not captured, so the purchases cannot be stated as a share of the business or of its trading volume.
- No earnings, margin or cash-flow figures are captured for this company. The latest annual and interim reports are where to check whether the business is improving or deteriorating.
- The next scheduled results are on 2026-10-22. They are the first hard test of either reading.
- European notifications have no field saying whether a purchase was pre-arranged; there is no counterpart to the US 10b5-1 box. None of the 7 purchase lines mentions a plan, but a bare “Förvärv” does not rule one out.
- The filings give the size of each trade, not what the buyer already held. Whether a purchase added 1% to a personal stake or doubled it is not known.
Checked and under the threshold: 7, 1 close to it
- BullAt most 2 insiders bought within any 15 days. Counted for the bull side from 3. close to the threshold
- BearThe largest buyer accounts for 50% of the value bought. Counted for the bear side from 80%.
- Bear0 of 4 buyers filed as a person closely associated with a manager. Counted for the bear side from half.
- EitherNet purchases of €61k in 180 days. Bull from €1.0M, bear when all purchases total under €25k.
- BearThe share price changed +5.8% over six months (three months +4.2%, one month −2.2%) and stands 17% below its 52-week high. Counted for the bear side from a fall of 20%.
- BearOver three months the share price changed +4.2% and the median of 271 Healthcare companies changed −6.3%: ahead by 11 points. Counted for the bear side from 20 points behind.
- BearThe register of Finansinspektionen shows no published net short position in this company. Positions under 0.5% are never published, so this does not show that nobody is short. On 2026-09-18 it showed 0.59%: what was published then has since been closed or cut below the threshold.
Both columns arrange stored facts only. They do not change the insider score or the ranking and are not investment advice.
Signal history
47.6 / 100
Latest recorded score
↓ -0.1 ptsversus the comparable snapshot on 2026-09-14 (34 calendar days apart)
- Recorded snapshots
- 35
- First snapshot
- 2026-08-26
Only scores captured when the scoring run completed are compared. These are raw signal scores saved when each full scoring run completed. They describe changes in research ranking, not price performance or returns.
Why did it change?
Decomposition across the five score factors between comparable snapshots; historical scores are not recalculated.
- Recency-0.1 pts
Signal score history
Fixed 0–100 scale; dates are spaced by calendar time.
Recent recorded points
- 49.1
- 47.8
- 47.6
- 47.6
- 47.6
View all recorded scores
| Snapshot date | Signal score |
|---|---|
| 2026-08-26 | 49.1 |
| 2026-08-27 | 49.1 |
| 2026-08-28 | 48.0 |
| 2026-08-31 | 47.9 |
| 2026-09-01 | 47.9 |
| 2026-09-02 | 47.9 |
| 2026-09-03 | 47.9 |
| 2026-09-04 | 47.8 |
| 2026-09-07 | 47.8 |
| 2026-09-08 | 47.8 |
| 2026-09-09 | 47.8 |
| 2026-09-10 | 47.7 |
| 2026-09-11 | 47.7 |
| 2026-09-14 | 47.7 |
| 2026-09-23 | 47.6 |
| 2026-09-24 | 47.6 |
| 2026-09-25 | 47.6 |
| 2026-09-28 | 47.6 |
| 2026-09-29 | 47.6 |
| 2026-09-30 | 47.6 |
| 2026-10-01 | 47.6 |
| 2026-10-02 | 47.6 |
| 2026-10-03 | 47.6 |
| 2026-10-04 | 47.6 |
| 2026-10-05 | 47.6 |
| 2026-10-06 | 47.6 |
| 2026-10-07 | 47.6 |
| 2026-10-08 | 47.6 |
| 2026-10-09 | 47.6 |
| 2026-10-12 | 47.6 |
| 2026-10-13 | 47.6 |
| 2026-10-14 | 47.6 |
| 2026-10-15 | 47.6 |
| 2026-10-16 | 47.6 |
| 2026-10-18 | 47.6 |
Sector context
- Buying breadth
- 6.1% (48 / 792 issuers)
- Sector rank
- #11 / 12
- 7D breadth change
- -0.4 pp · vs 2026-10-12 (6d)
- 30D breadth change
- History building
This is sector-level research context. It does not affect the Insider Signal or ranking.
Insider profile outcomes
Historical performance following insider filings. The company role is translated below each name while preserving the original title.
- Excess return = stock return − OMX Stockholm 30 return over the same period.
- Hit rate = completed events with positive excess return ÷ total completed events.
- Price coverage = valid point-in-time prices ÷ events mature enough for that period.
- Returns start on the first shared trading session on or after publication.
- Small-sample rule: n<5 is shown for transparency and is not scored.
Events are disclosure-level observations; related disclosures published on the same date may share a return path and may not be statistically independent. This research enrichment does not affect the insider score or ranking.
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 11Developing evidence | 100.0% (11/11) | 27.3% (3/11) | -2.4% | -1.7% | -10.3% |
| 20D | 11Developing evidence | 100.0% (11/11) | 36.4% (4/11) | -2.5% | -3.0% | -22.7% |
| 60D | 11Developing evidence | 100.0% (11/11) | 36.4% (4/11) | -3.7% | -7.2% | -38.8% |
| 120D | 8Developing evidence | 100.0% (8/8) | 0.0% (0/8) | -14.3% | -15.3% | -30.5% |
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 10Developing evidence | 100.0% (10/10) | 50.0% (5/10) | -0.3% | +0.0% | -6.0% |
| 20D | 10Developing evidence | 100.0% (10/10) | 60.0% (6/10) | +1.0% | +0.8% | -8.3% |
| 60D | 10Developing evidence | 100.0% (10/10) | 40.0% (4/10) | -0.4% | -1.4% | -29.9% |
| 120D | 10Developing evidence | 100.0% (10/10) | 40.0% (4/10) | -2.6% | -5.2% | -38.1% |
Market context
PRICE PERFORMANCE
VOLATILITY & LIQUIDITY
- Volatility
- 28.1%
- Beta
- —
- Avg daily volume
- SEK 7.3M
VALUATION
- Market cap
- —
- P/E
- —
FUNDAMENTALS
- Profit margin
- 4.4%
- ROE
- 6.0%
- Industry
- —
Prices to 11 Oct 2026: OpenBB/yfinance; volume from price cache (yfinance). From the company's annual report ↗, fiscal year ended 31 Dec 2024: Profit margin, ROE. It does not affect the insider score or rank.
Disclosed net short positions
The Finansinspektionen register, read 18 Oct 2026, publishes no net short position of 0.5% or more in this issuer. Positions below 0.5% are never published, so this is not evidence that nobody is short.
Short-position disclosures are external context; they do not affect the insider score, ranking, or filing eligibility.
Insiders' buying price vs the latest close
The latest close in the price history is more than a week old.
Buying size vs market trading
Market history is too old for this snapshot; ratios are withheld.
Market-data coverage: 500 verified sessions · Latest session: 2026-10-09 · Ratio status: Unavailable
Traded value is estimated as close × shares traded, in major currency units. Includes disclosed qualifying purchases; disclosures may lag. Contractual or planned acquisitions are not necessarily discretionary. Ratios describe relative trading size, not market participation or score contributions.
Latest news
No news has been captured for this company.
Regulatory filings
The filing records held for this company carry no link to the original notice.
Filing evidence
These are underlying national-feed records from the 365-day window ending on the saved ranking snapshot. The score uses only the latest 180 days; older qualifying equity purchases remain visible for audit but do not enter the current score. The original filer, role, transaction classification, instrument, price, volume, value and source fields are retained. The first three rows are shown; remaining records can be unfolded for audit. Other transaction types are retained but excluded from the score.
Excluded transactions & classification
19 qualifying purchase disclosure(s) · 19 transaction line(s)
Jul 15, 2026Förvärv
Eva Maria Cecilia Sandell Elmstedt · Styrelseledamot
Aktie · 25000.0 shares × 26.65 SEK · —
Jun 2, 2026Förvärv
Jonas Cederhage · Annan medlem i bolagets administrations-, lednings- eller kontrollorgan
Aktie · 5000.0 shares × 24.04 SEK · —
May 13, 2026Förvärv
Jonas Cederhage · Annan medlem i bolagets administrations-, lednings- eller kontrollorgan, Annan ledande befattningshavare
Aktie · 2000.0 shares × 24.66 SEK · —
Unfold all 16 remaining filing row(s)
| Transaction date | Published | Filer | Role | Transaction | Instrument | Price (local currency) | Quote currency | Volume | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-05-13 | 2026-05-13 | Christofer Carlsson | Ekonomichef/finanschef/finansdirektör | Förvärv | Aktie | 24.78 SEK | SEK | 3000.0 | — |
| 2026-05-13 | 2026-05-13 | Christofer Carlsson | Ekonomichef/finanschef/finansdirektör | Förvärv | Aktie | 24.86 SEK | SEK | 2000.0 | — |
| 2026-05-13 | 2026-05-13 | Christofer Carlsson | Ekonomichef/finanschef/finansdirektör | Förvärv | Aktie | 24.84 SEK | SEK | 5000.0 | — |
| 2026-04-23 | 2026-04-23 | Ulrika Dellby | Styrelseledamot | Förvärv | Aktie | 25.82 SEK | SEK | 10000.0 | — |
| 2026-02-06 | 2026-02-06 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 26.3191 SEK | SEK | 15000.0 | — |
| 2026-02-05 | 2026-02-06 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 25.9405 SEK | SEK | 446974.0 | — |
| 2026-02-04 | 2026-02-05 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 25.9337 SEK | SEK | 950000.0 | — |
| 2026-02-03 | 2026-02-05 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 26.2223 SEK | SEK | 1450000.0 | — |
| 2026-02-02 | 2026-02-03 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 26.41 SEK | SEK | 600000.0 | — |
| 2026-01-30 | 2026-02-03 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 27.2305 SEK | SEK | 4000000.0 | — |
| 2026-01-30 | 2026-02-03 | Susanna Berggren | Annan ledande befattningshavare | Förvärv | Aktie | 27.3 SEK | SEK | 1100.0 | — |
| 2026-01-30 | 2026-01-31 | Christofer Carlsson | Ekonomichef/finanschef/finansdirektör | Förvärv | Aktie | 27.32 SEK | SEK | 4000.0 | — |
| 2025-11-19 | 2025-11-20 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 30.0 SEK | SEK | 1395544.0 | — |
| 2025-11-04 | 2025-11-04 | Johan Malmquist | Styrelseordförande | Förvärv | Aktie | 30.177 SEK | SEK | 100000.0 | — |
| 2025-11-04 | 2025-11-04 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 29.9977 SEK | SEK | 284881.0 | — |
| 2025-11-03 | 2025-11-04 | Carl Bennet | Styrelseledamot | Förvärv | Aktie | 30.0 SEK | SEK | 839870.0 | — |
Showing 19 of 19 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Other disclosed transactions · excluded from score
View 1 other transaction(s)
Jul 15, 2026Avyttring
Eva Maria Cecilia Sandell Elmstedt · Styrelseledamot
Aktie · 25000.0 shares × 26.54 SEK · —
Showing 1 of 1 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Snapshot & identity
- Snapshot date
- 2026-10-18
- Ticker
- ARJO-B.ST
- ISIN
- SE0010468116
- Sector
- Healthcare
- Industry
- Medical Distribution
Company logos by Parqet