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 that occurred 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 completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Boston Scientific Stock Performance

BSX opened at $90.76 on Thursday. The firm has a 50 day moving average of $86.43 and a two-hundred day moving average of $80.51. The firm has a market capitalization of $133.76 billion, a PE ratio of 75.01, a P/E/G ratio of 2.63 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 Co. has a 12-month low of $53.93 and a 12-month high of $91.93.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BSX. Marshall Wace LLP increased its holdings in shares of Boston Scientific by 115.9% during 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 in the last quarter. AustralianSuper Pty Ltd increased its holdings in 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 valued at $224,320,000 after buying an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in 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 buying an additional 1,824,405 shares in the last quarter. Swedbank AB acquired a new position in shares of Boston Scientific in the first quarter worth about $100,113,000. Finally, State Street Corp boosted its stake in shares of 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 worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company upped their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Barclays raised their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI lifted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $93.39.

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.