Boston Scientific Co. (NYSE:BSX) EVP Arthur C. Butcher Sells 14,010 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Boston Scientific Trading Down 0.8 %

Shares of BSX stock opened at $89.25 on Tuesday. The stock has a 50 day simple moving average of $86.11 and a 200 day simple moving average of $80.32. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $131.53 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its 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 company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. On average, research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BSX. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Bank of America raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup boosted their price objective 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.39.

Hedge Funds Weigh In On Boston Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP increased its stake in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Boston Scientific by 4,292.3% during the 3rd 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Boston Scientific by 30.0% during 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. Swedbank AB bought a new stake in shares of Boston Scientific during the 1st quarter worth $100,113,000. Finally, State Street Corp boosted its stake in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 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.