John Bradley Sorenson Sells 4,119 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Boston Scientific Stock Up 1.5 %

Shares of NYSE BSX opened at $90.69 on Friday. The business has a 50-day moving average of $88.98 and a 200-day moving average of $83.20. The firm has a market capitalization of $133.66 billion, a price-to-earnings ratio of 74.95, a PEG ratio of 2.67 and a beta of 0.80. 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 Co. has a 12 month low of $57.58 and a 12 month high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Bank of America increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI boosted their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.96.

Hedge Funds Weigh In On Boston Scientific

A number of large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in Boston Scientific by 5.5% during the 2nd quarter. Van ECK Associates Corp now owns 49,012 shares of the medical equipment provider’s stock valued at $3,774,000 after buying an additional 2,541 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Boston Scientific by 33.6% in the 2nd quarter. Simon Quick Advisors LLC now owns 5,269 shares of the medical equipment provider’s stock valued at $406,000 after purchasing an additional 1,326 shares during the period. TD Asset Management Inc boosted its stake in Boston Scientific by 4.6% during the second quarter. TD Asset Management Inc now owns 2,152,974 shares of the medical equipment provider’s stock worth $165,801,000 after acquiring an additional 93,713 shares in the last quarter. SouthState Corp grew its stake in shares of Boston Scientific by 0.3% in the second quarter. SouthState Corp now owns 156,636 shares of the medical equipment provider’s stock worth $12,063,000 after acquiring an additional 427 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Boston Scientific by 109.0% during the second quarter. National Bank of Canada FI now owns 441,670 shares of the medical equipment provider’s stock valued at $33,746,000 after acquiring an additional 230,323 shares in the last quarter. Hedge funds and other 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.