Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells $370,792.38 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boston Scientific Trading Up 1.5 %

Boston Scientific stock opened at $90.69 on Monday. The firm has a 50-day moving average price of $88.98 and a two-hundred day moving average price of $83.30. Boston Scientific Co. has a 52-week low of $57.58 and a 52-week high of $91.93. The firm has a market capitalization of $133.66 billion, a price-to-earnings ratio of 74.95, a PEG ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 19.3% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. HWG Holdings LP bought a new position in shares of Boston Scientific in the second quarter valued at approximately $482,000. Principal Financial Group Inc. increased its stake in shares of Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Boston Scientific by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after purchasing an additional 119,525 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. TD Cowen lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Sanford C. Bernstein lifted their price target 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. Citigroup increased their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.