Insider Selling: Boston Scientific Co. (NYSE:BSX) Director Sells 4,877 Shares of Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Boston Scientific Stock Down 1.6 %

Shares of NYSE:BSX opened at $90.00 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market cap of $132.64 billion, a price-to-earnings ratio of 74.38, a PEG ratio of 2.69 and a beta of 0.79. The stock’s 50-day moving average price is $85.99 and its two-hundred day moving average price is $80.16. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. On average, research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Institutional Trading of Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in Boston Scientific during the first quarter valued at about $366,000. Bessemer Group Inc. grew its holdings in shares of Boston Scientific by 20.6% during the 1st quarter. Bessemer Group Inc. now owns 17,025 shares of the medical equipment provider’s stock worth $1,166,000 after purchasing an additional 2,906 shares during the period. EP Wealth Advisors LLC increased its position in Boston Scientific by 4.1% during the 1st quarter. EP Wealth Advisors LLC now owns 12,552 shares of the medical equipment provider’s stock worth $860,000 after purchasing an additional 497 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Boston Scientific by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock valued at $517,000 after buying an additional 2,361 shares during the period. Finally, Capital International Inc. CA acquired a new position in Boston Scientific during the first quarter valued at approximately $2,156,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Stifel Nicolaus upped their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada upped their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.