Boston Scientific Co. (NYSE:BSX) EVP Sells $370,792.38 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.69 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market capitalization of $133.66 billion, a PE ratio of 74.95, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The stock has a fifty day moving average of $88.86 and a 200-day moving average of $83.10. Boston Scientific Co. has a one year low of $57.58 and a one year high of $91.93.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during 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 revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on BSX. Evercore ISI lifted their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.96.

Institutional Investors Weigh In On Boston Scientific

A number of large investors have recently made changes to their positions in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares in the last quarter. HWG Holdings LP purchased a new stake in Boston Scientific in the 2nd quarter worth about $482,000. Principal Financial Group Inc. grew its stake in Boston Scientific by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after acquiring an additional 111,724 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Boston Scientific by 153.5% in the 3rd quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock valued at $16,541,000 after purchasing an additional 119,525 shares during the last quarter. 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.