Boston Scientific Co. (NYSE:BSX) EVP Sells $1,250,672.70 in Stock

Boston Scientific Co. (NYSE:BSX) EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction dated 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 in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Boston Scientific Price Performance

NYSE:BSX traded down $0.75 during trading hours on Monday, hitting $89.25. The company’s stock had a trading volume of 10,227,334 shares, compared to its average volume of 6,096,185. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market capitalization of $131.53 billion, a P/E ratio of 74.38, a PEG ratio of 2.65 and a beta of 0.79. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The stock has a fifty day simple moving average of $85.99 and a 200-day simple moving average of $80.22.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSX. Evercore ISI increased their price target on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein increased their price objective 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. Morgan Stanley upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Barclays raised their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Monday, November 18th. Four 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’s stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP grew its position in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after purchasing an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd raised its stake in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Boston Scientific by 30.0% in 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 purchasing an additional 1,824,405 shares in the last quarter. Swedbank AB purchased a new stake in Boston Scientific in the 1st quarter valued at $100,113,000. Finally, State Street Corp lifted its stake in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

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.