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 business’s stock in a transaction that occurred on 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 transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boston Scientific Stock Up 1.5 %

NYSE BSX opened at $90.69 on Friday. 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 $57.58 and a 12 month high of $91.93. The stock’s 50 day moving average is $88.98 and its 200 day moving average is $83.20. The stock has a market cap of $133.66 billion, a PE ratio of 74.95, a P/E/G ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in BSX. Global Wealth Strategies & Associates boosted its stake in Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific in the third quarter worth $30,000. Finally, Capital Performance Advisors LLP bought a new position in Boston Scientific during the third quarter valued at $30,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BSX. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Citigroup lifted their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.