Tuesday, 23 April 2024

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Boston Scientific EVP Wendy Carruthers sells $477,776 in stock By Investing.com

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Boston Scientific Corp (NYSE:) has reported a recent transaction involving the company’s EVP of Human Resources, Wendy Carruthers. According to the latest filings, Carruthers sold 6,983 shares of common stock at a price of $68.42, totaling approximately $477,776.

The sale was executed on April 1, 2024, and was part of a pre-established Rule 10b5-1 trading plan adopted on November 17, 2023. This type of trading plan allows company insiders to set up a predetermined plan for buying or selling stock and is intended to avoid any accusations of insider trading.

In addition to the sale, the filing disclosed that Carruthers also exercised options to acquire shares of common stock. Two separate transactions were reported: one for 3,066 shares at a price of $17.26, and another for 1,197 shares at a price of $24.55. The total amount paid for these option exercises amounted to $82,305, with the prices per share ranging between $17.26 and $24.55.

Following these transactions, the total number of shares owned by Carruthers has changed, as reflected in the post-transaction amounts. After the sale and the acquisition of shares through option exercises, the updated holdings in non-derivative securities are detailed in the company’s filing.

It’s important to note that the transactions reported in the Form 4 were conducted under a trading plan that is intended to remove any discretion by the insider over the timing of purchases or sales and to provide a defense against insider trading accusations.

Investors and followers of Boston Scientific Corp will often monitor insider transactions as they can provide insights into how the company’s top executives view the stock and its value. However, it’s also essential to consider the broader context in which these transactions occur, including the overall performance of the company and market conditions.

InvestingPro Insights

Boston Scientific Corp’s (NYSE:BSX) recent insider transaction coincides with a period where the company exhibits a strong financial performance and market presence. InvestingPro data highlights that the company’s market capitalization stands robust at 99.17 billion USD, indicating a significant presence in the healthcare equipment and supplies industry. With a P/E ratio of 62.36 and an adjusted P/E ratio for the last twelve months as of Q4 2023 at 59.81, the company trades at a high earnings multiple, which aligns with an InvestingPro Tip that Boston Scientific is trading at a low P/E ratio relative to…

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