Never you mind all those troubles at Boston Scientific. Sure, the device maker overpaid last year for Guidant. And those recent studies saying stents don’t prevent heart attacks or deaths aren’t likely to inspire cardiologists.

But for Jim Tobin, timing is everything. The ceo, you see, unloaded $50 million in stock between 2002 and 2006, which were wonderful years compared with today. Consider that Boston Scientific stock is trading at around $14 now - its lowest point in five years, well below the $45 peak in mid-2004 and off 40 percent from just a year ago.

Such fortuitious behavior also afflicted others at Boston Scientific. Between 2002 and 2006, several execs and directors sold stock for a combined $358 million, at an average price of $36.43, The Street.com reports, citing research from Interactive Data. This includes $157 million dumped by Larry Best, the cfo.

Even when deducting the cost of exercising options and stock purchases over the years, insider took $291 million off the table. By comparison, shareholders lost $218 million, or 61 cents on the dollar.

A turnaround, of course, will benefit Tobin, but he lunged after Guidant and many average investors suffered. Somehow, though, he had the good sense to profit when he could. Then again, the more investors with chest pain, the greater the odds that stent sales will one day rise again.

Complete article in TheStreet.com;
The recent study news in The Wall Street Journal (subscription required).[tags]Boston Scientific, Jim Tobin[/tags]