Medical device maker 's (NASDAQ: PODD) stock was the cure for the investor blues on Wednesday. Following news of a large insider buy, the shares subsequently shot more than 6% higher on the day. That was well higher than the sub-0.4% increase of the S 500 index.

The inside buyer of Insulet stock was none other than its CEO, James Hollingshead. In a regulatory filing, the specialty healthcare company divulged that Hollingshead had purchased 5,550 shares of its common stock on Monday.

While that doesn't look at first blush to be a big-time purchase, Insulet stock currently has a triple-digit price tag. As a result, that buy-in cost the company's leader just over $1 million.

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Source Fool.com