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 company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boston Scientific Stock Up 1.5 %

BSX stock traded up $1.31 during trading on Friday, reaching $90.69. The stock had a trading volume of 3,436,935 shares, compared to its average volume of 3,402,940. Boston Scientific Co. has a one year low of $57.58 and a one year high of $91.93. The company’s 50 day moving average is $88.86 and its two-hundred day moving average is $83.10. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $133.66 billion, a price-to-earnings 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 quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates raised its position in shares of Boston Scientific by 423.7% during the 4th 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 in the last quarter. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific during the third quarter valued at $30,000. Finally, Capital Performance Advisors LLP purchased a new stake in Boston Scientific during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus increased their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.