John Bradley Sorenson Sells 6,528 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

John Bradley Sorenson also recently made the following trade(s):

• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Stock Down 0.1 %

Shares of BSX opened at $106.03 on Wednesday. The business’s 50 day moving average is $95.19 and its 200 day moving average is $87.50. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $64.54 and a 12-month high of $107.17. The company has a market capitalization of $156.26 billion, a PE ratio of 84.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Research analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. AustralianSuper Pty Ltd boosted its stake in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $190,780,000. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. State Street Corp grew its holdings in shares of Boston Scientific by 2.3% in 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 purchasing an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after purchasing an additional 1,091,561 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on BSX shares. Royal Bank of Canada increased their price objective on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Canaccord Genuity Group increased their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. 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. Finally, TD Cowen boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $107.39.

About Boston Scientific

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.