New Boston Scientific Corp. CEO Raymond Elliot purchased 100,000 shares of stock in the company, according to regulatory filings with Federal Securities and Exchange Commission.
The value of the shares, which were purchased at a price of $11.05 on August 11, is just more than $1.1 million. Elliot, who was awarded a $1.5 million signing bonus when he took the position, earns a base salary of $1.2 million gross plus the chance at performance bonuses, according to the compensation agreement he signed June 22.
The purchase adds to the 18,000-plus shares Elliott was awarded while a member of the company’s board and brings his personal stake in BSC to 118,264 shares of common stock.
And it appears that Elliott isn’t the only insider who’s bullish on the future of the Natick-based medical devices giant.
Paulson & Co., a New York investment fund run by John Paulson (which is Boston Scientific’s largest institutional shareholder), also increased its stake in the company over the past year.
According to a quarterly filing with the SEC, the investment firm increased its stake to just over 99 million shares as of June 30. The shares are valued at over $1 billion and good for just under 7 percent of the company’s common stock.
Shares of Boston Scientific stock are been up 45 percent so far in 2009.