Boston Scientific Stock Up with CFO Buy

Boston Scientific CFO Lawrence Best reportedly snapped up 200,000 shares of the Natick, MA-based medical device maker on Feb. 16 and caused the stock to jump $1.77 to $24.38 by the end of trading. Best bought the shares in the open market at an average per share price of $22.43, according the Associated Press. In addition, Boston Scientific board member Nicholas J. Nicholas bought 25,000 shares. “Given the obvious insight Larry has with respect to progress on the Guidant deal, FDA issues, etc., we would expect investor confidence in the merits of the transaction to increase as a result of his substantial stock purchase,” said Deutsche Bank analyst Tao Levy in a report. “We would also remind investors that in the past, Larry Best has had prescient timing when it has come to his BSX share trades.”