Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 4,675 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Boston Scientific Trading Down 3.3 %

Shares of NYSE BSX traded down $3.47 during trading on Tuesday, reaching $100.93. The stock had a trading volume of 18,820,683 shares, compared to its average volume of 6,365,932. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market cap of $148.94 billion, a P/E ratio of 80.74, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17. The business’s 50-day moving average price is $98.25 and its 200-day moving average price is $89.69.

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 return on equity of 17.80% and a net margin of 11.07%. On average, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on BSX shares. Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup upped their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.39.

Institutional Investors Weigh In On Boston Scientific

Several large investors have recently added to or reduced their stakes in BSX. TFC Financial Management Inc. grew its stake in shares of Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC boosted its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new position in Boston Scientific during the 4th quarter worth $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $26,000. Finally, Dunhill Financial LLC raised its position in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares in the last quarter. 89.07% of the stock is 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.