John Bradley Sorenson Sells 2,657 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 2,657 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total value of $277,417.37. Following the completion of the transaction, the executive vice president now directly owns 24,294 shares in the company, valued at approximately $2,536,536.54. This trade represents a 9.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

John Bradley Sorenson also recently made the following trade(s):

• On Friday, February 14th, John Bradley Sorenson sold 1,201 shares of Boston Scientific stock. The stock was sold at an average price of $106.31, for a total value of $127,678.31.
• On Wednesday, February 12th, John Bradley Sorenson sold 6,389 shares of Boston Scientific stock. The shares were sold at an average price of $105.06, for a total value of $671,228.34.
• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16.
• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Stock Performance

Shares of BSX stock opened at $105.41 on Friday. The business has a fifty day moving average of $97.69 and a 200 day moving average of $89.06. Boston Scientific Co. has a 1 year low of $65.33 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $155.36 billion, a price-to-earnings ratio of 84.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced 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, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Canaccord Genuity Group increased their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Stifel Nicolaus boosted their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Truist Financial upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.39.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $415,000. Highland Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $3,405,000. Finally, Brookstone Capital Management boosted its stake in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.