Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 56,372 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president now directly owns 178,342 shares in the company, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Boston Scientific Stock Performance

BSX opened at $102.04 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a fifty day moving average price of $100.49 and a 200 day moving average price of $98.37. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The stock has a market cap of $150.96 billion, a P/E ratio of 81.63, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the business posted $0.56 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BSX shares. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. UBS Group boosted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Citigroup reissued a “buy” rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Morgan Stanley boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Twenty-one research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Buy” and an average price target of $116.00.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently made changes to their positions in BSX. Norges Bank acquired a new position in shares of Boston Scientific in the 4th quarter valued at $1,762,522,000. Capital World Investors increased its holdings in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC increased its holdings in Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock worth $260,057,000 after acquiring an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE increased its holdings in Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Company Profile

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.