Boston Scientific Co. (NYSE:BSX) EVP Sells $570,511.10 in Stock

Boston Scientific Co. (NYSE:BSX) EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Wendy Carruthers also recently made the following trade(s):

• On Thursday, August 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96.
• On Monday, July 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90.

Boston Scientific Stock Up 1.0 %

BSX opened at $81.95 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $82.47. The stock has a market capitalization of $120.23 billion, a P/E ratio of 68.87, a P/E/G ratio of 2.71 and a beta of 0.78. The business has a 50 day simple moving average of $77.22 and a 200-day simple moving average of $73.31.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSX. Sierra Summit Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $8,038,000. TD Asset Management Inc increased its stake in Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after purchasing an additional 73,219 shares during the last quarter. BDF Gestion purchased a new stake in Boston Scientific during the second quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $956,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BSX has been the subject of several research reports. Mizuho boosted their target price on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group began coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective for the company. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Thursday. Argus increased their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Barclays lifted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

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.