Insider Selling: Boston Scientific Director Sells 10,000 Shares of Stock (BSX)
Boston Scientific (NYSE:BSX) Director Ernest Mario unloaded 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $12.60, for a total value of $126,000.00. Following the sale, the director now directly owns 277,855 shares of the company’s stock, valued at approximately $3,500,973. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Boston Scientific (NYSE:BSX) traded down 1.19% during mid-day trading on Wednesday, hitting $12.44. 7,171,348 shares of the company’s stock traded hands. Boston Scientific has a 1-year low of $10.95 and a 1-year high of $14.08. The stock’s 50-day moving average is $12.65 and its 200-day moving average is $12.95. The company has a market cap of $16.492 billion and a price-to-earnings ratio of 69.56. Boston Scientific also was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 38,636,682 shares, a growth of 38.5% from the July 31st total of 27,894,774 shares. Based on an average daily volume of 9,493,507 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.9% of the company’s shares are sold short.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Boston Scientific will post $0.82 earnings per share for the current fiscal year.
A number of research firms have recently commented on BSX. Analysts at Zacks reiterated a “neutral” rating on shares of Boston Scientific in a research note on Wednesday, August 13th. 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 investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Boston Scientific has an average rating of “Buy” and a consensus target price 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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