Both directors selling about 20% of thier holdings, never a good thing to see. The shares are nowhere near all time highs and the forward multiple is the lowest it's been in years.
After such a massive acquisition outside of a core competency, the CEO resigning (has he since sold his shares?) So soon after the deal, it's just not a good look. This Vifor deal marks the company down, it will take a couple of years of good performance and no write downs of the goodwill to it all clear up. The cynic in me says, "how do you get ROIC back to historic levels, well just write down Vifor's goodwill under a new CEO".
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