Boston Scientific Corporation (NYSE:BSX) executive Jeffrey B. Mirviss, the company's EVP and President of Peripheral Interventions, has sold a total of 14,506 shares of common stock, according to the latest SEC filings. The transactions, which took place on March 18, 2024, amounted to over $963,000.
The shares were sold at a weighted average price of $66.4504, with individual sales prices ranging from $66.26 to $66.791. Following the sale, Mirviss still owns 58,098 shares in the company, indicating a continued investment in Boston Scientific's future.
The sale was conducted under a pre-established Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for buying or selling shares at a time when they are not in possession of material non-public information. This plan had been adopted by Mirviss on May 25, 2023.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's performance and prospects. However, it's worth noting that such sales can also be part of personal financial planning or diversification strategies.
Boston Scientific has not made any additional comments regarding the transaction. Interested parties can request more detailed information about the sale prices from the reporting person through the proper channels as indicated in the SEC filing footnote.
Boston Scientific Corporation continues to be a leading manufacturer in the medical devices sector, specializing in products used in a range of interventional medical specialties.
InvestingPro Insights
Following the recent insider stock sale by Jeffrey B. Mirviss, Boston Scientific Corporation (NYSE:BSX) remains a significant entity in the healthcare equipment and supplies industry. With a market capitalization of 99.44 billion USD and a robust revenue growth of 12.29% over the last twelve months as of Q1 2023, the company demonstrates a sound financial position. Furthermore, Boston Scientific's gross profit margin stands at an impressive 69.16%, showcasing the efficiency of its operations.
On the valuation front, the company's P/E ratio is currently 62.57, which aligns with a InvestingPro Tip that Boston Scientific is trading at a low P/E ratio relative to near-term earnings growth, indicating potential for investors who are considering the company's future profitability. Additionally, the company's EBITDA has grown by 14.01% in the same period, reflecting strong operational performance.
For those looking to delve deeper into Boston Scientific's stock performance, InvestingPro Tips highlight that the company has experienced a significant price uptick over the last six months, with a 26.8% total return, and a 40.23% return over the last year, suggesting a strong trend in the stock's appreciation.
For investors and analysts seeking further insights, there are 11 additional InvestingPro Tips available for Boston Scientific, which can be accessed at Investing.com/pro/BSX. To enrich your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a comprehensive analysis that could guide your decision-making process.
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