Boston Scientific Co. (NYSE:BSX) EVP Joseph Michael Fitzgerald Sells 132,527 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Boston Scientific Price Performance

Boston Scientific stock opened at $85.83 on Wednesday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $86.09. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The business has a fifty day moving average of $80.25 and a two-hundred day moving average of $76.03. The company has a market cap of $125.92 billion, a P/E ratio of 72.13, a price-to-earnings-growth ratio of 2.78 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BSX. Royal Bank of Canada raised their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday. Evercore ISI raised their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup raised their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird lifted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC raised its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific during the 1st quarter worth $25,000. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the 2nd quarter valued at about $26,000. Andra AP fonden purchased a new position in Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC purchased a new position in Boston Scientific in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.