Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 14,010 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Boston Scientific Trading Down 0.8 %

BSX opened at $89.25 on Tuesday. The company has a fifty day moving average price of $86.11 and a two-hundred day moving average price of $80.32. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company has a market cap of $131.53 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent research reports. Canaccord Genuity Group upped their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. BTIG Research raised their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen lifted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Mizuho upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Four investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Synovus Financial Corp grew its holdings in shares of Boston Scientific by 7.1% during the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock valued at $1,468,000 after buying an additional 1,167 shares during the last quarter. Tidal Investments LLC boosted its stake in Boston Scientific by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after purchasing an additional 6,990 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Boston Scientific during the 3rd quarter worth approximately $1,175,000. World Investment Advisors LLC raised its stake in shares of Boston Scientific by 50.9% in the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock worth $979,000 after purchasing an additional 3,939 shares during the last quarter. Finally, Passumpsic Savings Bank bought a new position in shares of Boston Scientific in the third quarter valued at approximately $3,015,000. Institutional investors 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.