Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells $1,257,470.50 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 17,587 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, April 1st, John Bradley Sorenson sold 16,351 shares of Boston Scientific stock. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30.

Boston Scientific Stock Up 1.1 %

Boston Scientific stock opened at $72.85 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.82 and a current ratio of 1.66. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39. The company has a 50-day simple moving average of $68.42 and a 200-day simple moving average of $61.27. The firm has a market capitalization of $106.88 billion, a P/E ratio of 61.22, a P/E/G ratio of 2.48 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 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 net margin of 12.06% and a return on equity of 16.39%. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, equities analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Hedge Funds Weigh In On Boston Scientific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. increased its holdings in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 148 shares during the period. Hazlett Burt & Watson Inc. increased its stake in Boston Scientific by 24.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 160 shares during the period. BSW Wealth Partners raised its position in shares of Boston Scientific by 2.3% during the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after buying an additional 165 shares in the last quarter. Allstate Corp lifted its stake in shares of Boston Scientific by 2.9% in the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after acquiring an additional 165 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in shares of Boston Scientific by 4.3% in the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after acquiring an additional 166 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Royal Bank of Canada lifted their price objective on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Argus increased their target price on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Citigroup lifted their price target on shares of Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

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.