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 company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Boston Scientific Stock Down 1.6 %

Boston Scientific stock opened at $90.00 on Friday. The firm has a market cap of $132.64 billion, a price-to-earnings ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The firm has a fifty day moving average price of $85.99 and a two-hundred day moving average price of $80.12.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BSX. Marshall Wace LLP raised its position in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Boston Scientific during the first quarter valued at about $182,897,000. AustralianSuper Pty Ltd raised its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares during the last quarter. Finally, Swedbank AB acquired a new position in Boston Scientific in the first quarter worth about $100,113,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BSX shares. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. TD Cowen boosted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Raymond James boosted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Citigroup boosted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Four investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.