Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 4,119 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Boston Scientific Stock Up 1.5 %

BSX stock traded up $1.31 during trading hours on Friday, reaching $90.69. 3,436,935 shares of the stock were exchanged, compared to its average volume of 3,402,940. The company has a market cap of $133.66 billion, a price-to-earnings ratio of 74.95, a PEG ratio of 2.67 and a beta of 0.80. The firm’s 50-day moving average is $88.86 and its 200-day moving average is $83.10. Boston Scientific Co. has a 12 month low of $57.58 and a 12 month high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. On average, equities research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On Boston Scientific

Institutional investors have recently modified their holdings of the business. Marshall Wace LLP boosted its position in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd raised its stake in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares during the period. Ameriprise Financial Inc. grew its stake in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. State Street Corp increased its holdings in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Boston Scientific by 98.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after purchasing an additional 1,091,561 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.96.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.