Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of hospital software specialist MedAssets (Nasdaq: MDAS) climbed as much as 10% in intraday trading Monday on news that Director Bruce Wesson bought 24,000 common shares last week at a price of $9.35-$9.38.

So what: As legendary investor Peter Lynch famously wrote, "Insiders might sell their shares for any number of reasons, but they buy them for only one: They think the price will rise." Given the relatively large size of the purchase, investors have good reason to interpret the disclosure as a pretty good buy signal.

Now what: Don't let today's pop keep you from looking into the stock. Even with today's rally, MedAssets shares are still down more than 50% year-to-date and sport a cheapish forward P/E of about nine. Fools know never to follow insiders blindly into a stock, but Wesson's big buy seems to confirm that the stock represents at least a decent bargain opportunity.

Interested in more info on MedAssets? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool's disclosure policy always gets a perfect score.