Insider Selling: Boston Scientific Co. (NYSE:BSX) SVP Sells 6,000 Shares of Stock

Boston Scientific Co. (NYSE:BSX) SVP John Bradley Sorenson sold 6,000 shares of Boston Scientific stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $42.79, for a total transaction of $256,740.00. Following the completion of the transaction, the senior vice president now owns 42,385 shares in the company, valued at approximately $1,813,654.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

John Bradley Sorenson also recently made the following trade(s):

  • On Monday, July 15th, John Bradley Sorenson sold 3,728 shares of Boston Scientific stock. The shares were sold at an average price of $42.30, for a total transaction of $157,694.40.

Shares of BSX stock traded down $1.14 during mid-day trading on Wednesday, reaching $41.72. The company’s stock had a trading volume of 3,396,326 shares, compared to its average volume of 7,357,786. The firm’s 50 day moving average is $42.52. Boston Scientific Co. has a 12-month low of $31.56 and a 12-month high of $43.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.31 and a quick ratio of 1.04. The stock has a market cap of $59.17 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.59 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Boston Scientific by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 106,871,899 shares of the medical equipment provider’s stock worth $4,593,353,000 after buying an additional 1,649,632 shares during the period. Janus Henderson Group PLC increased its stake in Boston Scientific by 3.1% during the 2nd quarter. Janus Henderson Group PLC now owns 39,252,231 shares of the medical equipment provider’s stock worth $1,687,034,000 after buying an additional 1,162,625 shares during the period. Bank of New York Mellon Corp increased its stake in Boston Scientific by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,664,857 shares of the medical equipment provider’s stock worth $759,236,000 after buying an additional 570,230 shares during the period. Geode Capital Management LLC increased its stake in Boston Scientific by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after buying an additional 1,724,046 shares during the period. Finally, Northern Trust Corp increased its stake in Boston Scientific by 1.9% during the 1st quarter. Northern Trust Corp now owns 15,831,107 shares of the medical equipment provider’s stock worth $607,597,000 after buying an additional 300,231 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have weighed in on BSX shares. Needham & Company LLC set a $46.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $50.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Co lifted their price target on shares of Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Jefferies Financial Group lifted their price target on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus lifted their price target on shares of Boston Scientific from $44.00 to $46.00 and gave the company an “in-line” rating in a report on Thursday, June 27th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $44.91.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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

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