Daniel J. Brennan Sells 67,333 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boston Scientific Price Performance

Shares of BSX opened at $105.41 on Friday. The company has a market capitalization of $155.36 billion, a P/E ratio of 84.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $97.69 and a 200 day moving average of $89.06. Boston Scientific Co. has a twelve month low of $65.33 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Scientific

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning boosted its holdings in Boston Scientific by 7.7% in the third quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock worth $17,113,000 after purchasing an additional 14,663 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Boston Scientific by 11.5% in the third quarter. Global Retirement Partners LLC now owns 4,370 shares of the medical equipment provider’s stock worth $366,000 after purchasing an additional 449 shares during the last quarter. Stratos Wealth Advisors LLC boosted its holdings in Boston Scientific by 8.9% in the third quarter. Stratos Wealth Advisors LLC now owns 6,419 shares of the medical equipment provider’s stock worth $538,000 after purchasing an additional 522 shares during the last quarter. Capital Investment Advisors LLC purchased a new stake in Boston Scientific in the third quarter worth approximately $217,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Boston Scientific in the third quarter worth approximately $38,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BSX shares. Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Sanford C. Bernstein boosted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley boosted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $107.39.

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.