Insider Selling: Boston Scientific Corporation (BSX) EVP Sells 15,835 Shares of Stock

Boston Scientific Corporation (NYSE:BSX) EVP Michael P. Phalen sold 15,835 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $25.25, for a total transaction of $399,833.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Michael P. Phalen also recently made the following trade(s):

  • On Wednesday, November 29th, Michael P. Phalen sold 15,500 shares of Boston Scientific stock. The shares were sold at an average price of $26.66, for a total transaction of $413,230.00.
  • On Monday, October 30th, Michael P. Phalen sold 15,500 shares of Boston Scientific stock. The shares were sold at an average price of $28.42, for a total transaction of $440,510.00.

Shares of Boston Scientific Corporation (NYSE BSX) traded up $0.28 during trading on Wednesday, hitting $25.56. 8,264,500 shares of the company traded hands, compared to its average volume of 10,330,000. The company has a market cap of $35,100.00, a price-to-earnings ratio of 41.90, a PEG ratio of 1.74 and a beta of 0.96. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Boston Scientific Corporation has a 12 month low of $21.66 and a 12 month high of $29.93.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. equities research analysts predict that Boston Scientific Corporation will post 1.25 EPS for the current year.

Several institutional investors have recently made changes to their positions in the stock. Comerica Securities Inc. grew its holdings in shares of Boston Scientific by 0.9% during the 2nd quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock valued at $318,000 after purchasing an additional 99 shares during the last quarter. ETRADE Capital Management LLC boosted its position in Boston Scientific by 1.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after buying an additional 171 shares during the period. Krilogy Financial LLC boosted its position in Boston Scientific by 5.9% during the 2nd quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock worth $213,000 after buying an additional 430 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Boston Scientific by 0.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 101,738 shares of the medical equipment provider’s stock worth $2,820,000 after buying an additional 596 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Boston Scientific by 6.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,441 shares of the medical equipment provider’s stock worth $317,000 after buying an additional 653 shares during the period. 90.36% of the stock is currently owned by institutional investors.

Several equities analysts have commented on BSX shares. Canaccord Genuity decreased their target price on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Jefferies Group reissued a “hold” rating on shares of Boston Scientific in a report on Thursday, September 7th. BMO Capital Markets reissued a “buy” rating and issued a $30.00 target price on shares of Boston Scientific in a report on Friday, October 13th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, November 29th. Finally, Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and an average target price of $30.94.

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About Boston Scientific

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Insider Buying and Selling by Quarter for Boston Scientific (NYSE:BSX)

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