Boston Scientific Co. (NYSE:BSX) Director Sells $1,265,760.00 in Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the transaction, the director now owns 24,398 shares in the company, valued at approximately $2,573,501.04. This represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Boston Scientific Stock Up 0.4 %

Shares of NYSE BSX opened at $106.16 on Friday. The firm has a market cap of $156.47 billion, a P/E ratio of 84.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 1 year low of $65.00 and a 1 year high of $107.17. The firm’s 50 day moving average price is $95.80 and its 200 day moving average price is $87.85.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Royal Bank of Canada increased their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Citigroup upped their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a 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 stock an “overweight” rating in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $107.39.

Institutional Trading of Boston Scientific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Commonwealth Financial Corp PA acquired a new stake in shares of Boston Scientific in the fourth quarter worth approximately $221,000. Marshall Wace LLP raised its stake in Boston Scientific by 7.6% during the fourth quarter. Marshall Wace LLP now owns 8,865,843 shares of the medical equipment provider’s stock worth $791,897,000 after purchasing an additional 625,324 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Boston Scientific by 6.5% in the 4th quarter. NewEdge Advisors LLC now owns 88,895 shares of the medical equipment provider’s stock valued at $7,940,000 after purchasing an additional 5,416 shares during the last quarter. Main Street Financial Solutions LLC grew its stake in shares of Boston Scientific by 50.7% during the 4th quarter. Main Street Financial Solutions LLC now owns 4,433 shares of the medical equipment provider’s stock valued at $396,000 after buying an additional 1,492 shares during the period. Finally, Evergreen Capital Management LLC increased its holdings in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the last quarter. Hedge funds and other institutional investors 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.