Edward J. Ludwig Sells 12,000 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 12,000 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the completion of the transaction, the director now directly owns 24,398 shares of the company’s stock, valued at approximately $2,573,501.04. The trade was a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boston Scientific Stock Performance

Shares of BSX stock opened at $106.20 on Friday. The stock has a market capitalization of $156.51 billion, a price-to-earnings ratio of 84.96, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a one year low of $65.33 and a one year high of $107.17. The company’s 50-day simple moving average is $96.11 and its 200-day simple moving average is $87.97. 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 (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Equities analysts anticipate that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BSX shares. Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Sanford C. Bernstein boosted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $107.39.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. TFC Financial Management Inc. grew its position in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $29,000. Dunhill Financial LLC lifted its stake in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Boston Scientific during the 3rd quarter worth $28,000. Institutional investors and hedge funds 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.