Wendy Carruthers Sells 6,983 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Wendy Carruthers also recently made the following trade(s):

• On Tuesday, October 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The shares were sold at an average price of $83.86, for a total value of $585,594.38.

Boston Scientific Price Performance

BSX opened at $90.53 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $87.27 and its 200 day moving average price is $81.16. Boston Scientific Co. has a fifty-two week low of $54.31 and a fifty-two week high of $91.93. The firm has a market cap of $133.43 billion, a price-to-earnings ratio of 74.82, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently modified their holdings of BSX. Marshall Wace LLP boosted its stake in 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 during the period. AustralianSuper Pty Ltd boosted its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares during the period. Ameriprise Financial Inc. grew its holdings in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after buying an additional 1,824,405 shares in the last quarter. State Street Corp increased its position in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BSX shares. Evercore ISI upped their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Raymond James upped their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. BTIG Research lifted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.