Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells $277,417.37 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 2,657 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the sale, the executive vice president now directly owns 24,294 shares in the company, valued at approximately $2,536,536.54. The trade was a 9.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, February 14th, John Bradley Sorenson sold 1,201 shares of Boston Scientific stock. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31.
• On Wednesday, February 12th, John Bradley Sorenson sold 6,389 shares of Boston Scientific stock. The stock was sold at an average price of $105.06, for a total transaction of $671,228.34.
• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16.
• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Price Performance

Shares of BSX opened at $104.44 on Friday. The stock has a market capitalization of $154.12 billion, a P/E ratio of 83.55, a P/E/G ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17. The company has a 50 day moving average of $97.98 and a 200-day moving average of $89.27. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research analyst reports. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Barclays upped their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Morgan Stanley upped their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $107.39.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently modified their holdings of BSX. Creative Planning lifted its holdings in shares of Boston Scientific by 7.7% during the third quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock worth $17,113,000 after buying an additional 14,663 shares in the last quarter. Global Retirement Partners LLC raised its stake in Boston Scientific by 11.5% in the third quarter. Global Retirement Partners LLC now owns 4,370 shares of the medical equipment provider’s stock valued at $366,000 after purchasing an additional 449 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in Boston Scientific by 8.9% in the third quarter. Stratos Wealth Advisors LLC now owns 6,419 shares of the medical equipment provider’s stock valued at $538,000 after purchasing an additional 522 shares in the last quarter. Capital Investment Advisors LLC acquired a new position in Boston Scientific in the third quarter valued at about $217,000. Finally, Northwest Investment Counselors LLC acquired a new position in Boston Scientific in the third quarter valued at about $38,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.