Boston Scientific EVP Arthur Butcher sells $1.25 million in stock By Investing.com
Arthur C. Butcher, Senior Vice President and Group President of MedSurg and APAC at Boston Scientific Corp (NYSE:BSX), recently sold a significant portion of his holdings in the company. According to the most recent SEC filing, Butcher sold 14,010 shares of common stock at an average price of $89.27 per share, amounting to approximately $1.25 million. This transaction was part of a previously established Rule 10b5-1 trading plan.
In addition to the sale, Butcher exercised stock options to acquire 4,186 shares of common stock at prices ranging from $17.26 to $22.71 per share, for an estimated total transaction value of $89,565. Following this transaction, Butcher retains direct ownership of 978 shares and an additional 13,373 shares indirectly through a 401(k) plan.
In other recent news, Boston Scientific Corporation (NYSE: ) has announced its decision to acquire Intera Oncology Inc., a company specializing in liver cancer treatment devices and drugs. This acquisition is expected to enhance Boston Scientific’s interventional oncology portfolio. The company also plans to buy Cortex, a firm known for its unique cardiac mapping system, OptiMap. The move was well received by analysts at TD Cowen, who maintained a buy rating on Boston Scientific.
Boston Scientific also approved its 2025 Annual Bonus Plan and adopted two new performance sharing programs. These programs aim to align executive compensation with shareholder interests and company performance metrics. Additionally, the company has restarted its AVANT GUARD clinical trial, focusing on a new treatment option for patients with persistent atrial fibrillation.
The company’s cardiology business reported strong growth rates, up 27% in the US and 18% internationally. This growth is driven by strong performance in the ICTx and EP business segments, as well as the WATCHMAN franchise. Recent product approvals include the FARAVIEW mapping software and the FARAWAVE NAV catheter. Despite the ACURATE IDE trial not reaching its primary endpoint, the ACURATE platform showed a 20% revenue growth in EMEA, exceeding $200 million.
These latest developments highlight Boston Scientific’s commitment to innovation and growth in the cardiology market. The company is also investing in mitral and tricuspid therapy, aiming to double its drug-eluting balloon business worldwide by 2025.
InvestingPro Insights
Boston Scientific Corp (NYSE:BSX) has been showing strong financial performance, as evidenced by the latest data from InvestingPro. The company’s revenue growth of 15.66% over the past twelve months and a strong 19.34% quarterly growth underline its presence in growing markets. This growth is consistent with the executive’s decision to exercise options and reap benefits from the company’s success.
InvestingPro Tips highlights that Boston Scientific is a dominant player in the Healthcare Equipment & Supplies industry, with analysts expecting net income growth this year. Shares of the company have shown an impressive return of 61.78% over the past year, trading near its 52-week high. This performance may explain the timing of Arthur C. Butcher’s stock sell-off, which could be beneficial to the stock’s strong performance.
However, investors should note that BSX trades at a high P/E ratio of 73.01, suggesting a valuation premium. This high multiple is one of several valuation-related tips provided by InvestingPro, indicating that the stock may be overpriced.
For those interested in in-depth analysis, InvestingPro offers 17 additional tips for Boston Scientific, providing a comprehensive overview of the company’s financial health and market conditions. This information can be useful for investors who want to understand the full picture of the top trading activities and the value of the company.
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