Boston Scientific Co. (NYSE:BSX) EVP Sells $1,133,124.30 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Boston Scientific Price Performance

BSX stock opened at $67.75 on Friday. The firm has a 50 day moving average of $66.28 and a 200-day moving average of $58.70. The company has a market cap of $99.58 billion, a price-to-earnings ratio of 63.31, a PEG ratio of 2.36 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $69.20.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, equities analysts expect that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on BSX. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Truist Financial boosted their price target on Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Raymond James boosted their target price on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Finally, Evercore ISI increased their price target on Boston Scientific from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.14.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $28,000. Frazier Financial Advisors LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $32,000. Sachetta LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $32,000. Jones Financial Companies Lllp lifted its stake in Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 193 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.