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Do you like to follow smart money buying trends? For a closer look at stocks favored not only by the overall market but also smart money investors, we ran a screen.

We began by screening for stocks with strong positive market sentiment, rallying above their 20-day, 50-day, and 200-day moving averages.

We then screened these names for those with the confidence of their company insiders, such as members of the board and upper management, with significant net insider purchases over the last six months representing at least 1% of share float. Since most companies only have a handful of company insiders, net insider purchases representing 1% of share float is a big show of confidence in their employer's prospects.

We then screened these names for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform.

Interactive Chart: Press Play to compare changes in market cap over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks will continue to rally higher? Use this list as a starting point for your own analysis.

List sorted by net insider purchases over the last six months as a percent of share float.

1. EnteroMedics, Inc. (NASDAQ:ETRM): Focuses on the design and development of devices that use neuroblocking technology to treat obesity and associated co-morbidities, and other gastrointestinal disorders. Market cap at $113.94M, most recent closing price at $2.94. The stock is currently trading 12.67% above its 20-day moving average, 23.50% above its 50-day MA, and 35.90% above its 200-day MA. Net institutional purchases in the current quarter at 2.1M shares, which represents about 15.27% of the company's float of 13.75M shares. Over the last six months, insiders were net buyers of 2,933,271 shares, which represents about 21.33% of the company's 13.75M share float.

2. Wright Medical Group Inc. (NASDAQ:WMGI): Engages in the design, manufacture, and marketing of devices and biologic products for the extremity, hip, and knee repair and reconstruction. Market cap at $802.9M, most recent closing price at $20.43. The stock is currently trading 13.88% above its 20-day moving average, 15.72% above its 50-day MA, and 28.40% above its 200-day MA. Net institutional purchases in the current quarter at 1.5M shares, which represents about 5.09% of the company's float of 29.47M shares. Over the last six months, insiders were net buyers of 1,922,404 shares, which represents about 6.52% of the company's 29.47M share float.

3. Pacira Pharmaceuticals Inc. (NASDAQ:PCRX): Engages in the development, commercialization, and manufacture of pharmaceutical products for hospitals and ambulatory surgery centers. Market cap at $344.74M, most recent closing price at $10.78. The stock is currently trading 4.06% above its 20-day moving average, 0.24% above its 50-day MA, and 13.54% above its 200-day MA. Net institutional purchases in the current quarter at 6.7M shares, which represents about 47.79% of the company's float of 14.02M shares. Over the last six months, insiders were net buyers of 689,481 shares, which represents about 4.92% of the company's 14.02M share float.

4. Vitacost.com, Inc. (NASDAQ:VITC): Operates as an online retailer and direct marketer of health and wellness products. Market cap at $273.82M, most recent closing price at $8.16. The stock is currently trading 3.94% above its 20-day moving average, 1.50% above its 50-day MA, and 28.33% above its 200-day MA. Net institutional purchases in the current quarter at 684.9K shares, which represents about 5.31% of the company's float of 12.91M shares. Over the last six months, insiders were net buyers of 300,000 shares, which represents about 2.32% of the company's 12.91M share float.

5. Cape Bancorp, Inc. (NASDAQ:CBNJ): Operates as the holding company for the Cape Bank that provides a line of business and personal banking products to retail customers and small and mid-sized businesses primarily in Cape May and Atlantic Counties, New Jersey. Market cap at $106.75M, most recent closing price at $7.98. The stock is currently trading 2.90% above its 20-day moving average, 0.79% above its 50-day MA, and 0.33% above its 200-day MA. Net institutional purchases in the current quarter at 1.0M shares, which represents about 13.23% of the company's float of 7.56M shares. Over the last six months, insiders were net buyers of 120,100 shares, which represents about 1.59% of the company's 7.56M share float.

6. Guaranty Bancorp (NASDAQ:GBNK): Operates as the bank holding company for Guaranty Bank and Trust Company that provides various banking products and services to consumers, and small and medium-sized businesses. Market cap at $210.16M, most recent closing price at $1.97. The stock is currently trading 3.34% above its 20-day moving average, 7.53% above its 50-day MA, and 34.30% above its 200-day MA. Net institutional purchases in the current quarter at 17.6M shares, which represents about 24.93% of the company's float of 70.61M shares. Over the last six months, insiders were net buyers of 746,787 shares, which represents about 1.06% of the company's 70.61M share float.

*Insider data sourced from Yahoo! Finance, institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 6 Stocks Rallying On Insider And Hedge Fund Buying