Boston Scientific Co. (NYSE:BSX) Director Sells $1,265,760.00 in Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 12,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now directly owns 24,398 shares of the company’s stock, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Boston Scientific Trading Down 0.2 %

Shares of NYSE:BSX traded down $0.18 during mid-day trading on Wednesday, reaching $105.80. 5,456,226 shares of the company’s stock were exchanged, compared to its average volume of 6,164,861. The firm has a market capitalization of $155.93 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 2.79 and a beta of 0.80. The business’s fifty day moving average price is $95.50 and its 200-day moving average price is $87.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a twelve month low of $64.54 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. On average, research analysts predict that Boston Scientific Co. will post 2.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $107.39.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after acquiring an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $4,887,000. Brookstone Capital Management increased its holdings in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after acquiring an additional 20,307 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its holdings in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after acquiring an additional 4,702 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.