Although U.S. stocks closed lower on Monday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Perrigo

• The Trade: Perrigo Company plc (NYSE:PRGO) EVP and CHRO Robert Willis acquired a total of 5,550 shares an average price of $31.01. To acquire these shares, it cost around $172,106.
• What's Happening: Perrigo reported better-than-expected third-quarter earnings.
• What Perrigo Does: Perrigo is one of the largest consumer health companies in the world.

DENTSPLY SIRONA

• The Trade: DENTSPLY SIRONA Inc. (NASDAQ:XRAY) Director Gregory T Lucier acquired a total of 10,000 shares at an average price of $31.44. To acquire these shares, it cost around $314,400.
• What's Happening: DENTSPLY SIRONA recently announced that its board of directors has authorized an additional $1 billion share repurchase program.
• What DENTSPLY SIRONA Does: Dentsply Sirona is one of the world's largest manufacturers of dental equipment and supplies.

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Topgolf Callaway Brands

• The Trade: Topgolf Callaway Brands Corp. (NYSE:MODG) President and CEO Oliver G. Brewer III bought a total of 11,000 shares at an average price of $11.68. To acquire these shares, it cost around $128,480.
• What's Happening: Topgolf Callaway reported mixed third-quarter financial results and lowered FY23 guidance below estimates.
• What Topgolf Callaway Brands Does: Topgolf Callaway Brands Corp is a modern golf and active lifestyle company that provides world-class golf entertainment experiences, designs and manufactures premium golf equipment, and sells golf and active lifestyle apparel and other accessories.

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