Insider Selling: Michael P. Phalen Sells 11,471 Shares of Boston Scientific Stock (BSX)
Boston Scientific (NYSE:BSX) EVP Michael P. Phalen unloaded 11,471 shares of the stock on the open market in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $12.58, for a total transaction of $144,305.18. Following the sale, the executive vice president now directly owns 127,486 shares of the company’s stock, valued at approximately $1,603,774. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Boston Scientific (NYSE:BSX) traded down 0.95% during mid-day trading on Friday, hitting $12.46. The stock had a trading volume of 6,157,454 shares. Boston Scientific has a 1-year low of $10.54 and a 1-year high of $14.08. The stock has a 50-day moving average of $12.81 and a 200-day moving average of $13.01. The company has a market cap of $16.518 billion and a price-to-earnings ratio of 69.50.
Boston Scientific (NYSE:BSX) last released its earnings data on Thursday, July 24th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.19 by $0.01. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company posted $0.10 earnings per share. Boston Scientific’s revenue was up 3.5% compared to the same quarter last year. Analysts expect that Boston Scientific will post $0.82 EPS for the current fiscal year.
BSX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Boston Scientific in a research note on Wednesday. They now have a $13.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Boston Scientific in a research note on Thursday, August 7th. They now have a $14.50 price target on the stock, down previously from $16.00. Finally, analysts at Sterne Agee initiated coverage on shares of Boston Scientific in a research note on Tuesday, July 29th. They set a “neutral” rating and a $13.50 price target on the stock. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Boston Scientific presently has an average rating of “Buy” and a consensus price target of $13.88.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.
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