Wendy Carruthers, Executive Vice President of Human Resources at Boston Scientific Corp (NYSE:BSX), recently sold shares in the company valued at approximately $588,876. The transaction, which took place on November 1, involved 6,983 shares sold at a price of $84.33 each.
In addition to the sale, Carruthers also acquired shares through the exercise of stock options. She acquired 3,066 shares at $17.26 per share and 1,197 shares at $24.55 per share, as part of a pre-established trading plan. These transactions amounted to a total value of $82,305.
Following these transactions, Carruthers now holds 32,028 shares of Boston Scientific common stock. The transactions were executed under a Rule 10b5-1 trading plan, which was adopted in November 2023.
In other recent news, Boston Scientific has made noteworthy strides in the cardiology market. The company announced its plans to acquire Cortex, a private firm renowned for its OptiMap system, a cardiac mapping tool that aids in managing complex atrial fibrillation cases. Analysts from TD Cowen maintain a Buy rating on Boston Scientific, emphasizing the strategic value of the Cortex acquisition in enhancing the company's electrophysiology portfolio.
Recent developments also include robust growth rates for the company, with a 27% increase in the U.S. and 18% internationally. This success is largely attributed to strong performances in the ICTx and EP business sectors, as well as the WATCHMAN franchise. Boston Scientific has shown a commitment to innovation with recent product approvals, including the FARAVIEW mapping software and FARAWAVE NAV catheter.
Furthermore, the company is investing in mitral and tricuspid therapies, focusing on repair and replacement options. These strategies align with the company's aim to double the global drug-coated balloon business by 2025. All these developments highlight Boston Scientific's ongoing efforts to capitalize on the anticipated growth in the cardiology market.
InvestingPro Insights
Boston Scientific Corp (NYSE:BSX) has been demonstrating strong financial performance, as reflected in its recent stock activity and executive transactions. The company's market capitalization stands at an impressive $124.77 billion, underscoring its significant presence in the Healthcare Equipment & Supplies industry.
InvestingPro data reveals that Boston Scientific has experienced substantial growth, with a 15.66% increase in revenue over the last twelve months as of Q3 2024, reaching $15.91 billion. This growth trajectory is further emphasized by the company's robust quarterly revenue growth of 19.34% in Q3 2024. These figures align with the InvestingPro Tip indicating that net income is expected to grow this year, suggesting a positive outlook for the company's financial health.
The stock's performance has been particularly noteworthy, with a one-year price total return of 59.19% as of the latest data. This impressive return coincides with another InvestingPro Tip highlighting Boston Scientific's high return over the last year. The stock is currently trading at 95.09% of its 52-week high, which supports the tip that it is trading near its 52-week high.
It's worth noting that while the company exhibits strong growth, it is trading at a high P/E ratio of 69.23, which may indicate that the stock is priced at a premium relative to its earnings. This aligns with the InvestingPro Tip suggesting that Boston Scientific is trading at a high earnings multiple.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Boston Scientific, providing a deeper understanding of the company's financial position and market performance.
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