Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig Sells 12,000 Shares of Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares of the company’s stock, valued at approximately $2,573,501.04. This trade represents a 32.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Boston Scientific Stock Performance

BSX stock opened at $105.80 on Thursday. The stock’s 50 day simple moving average is $95.50 and its 200 day simple moving average is $87.72. Boston Scientific Co. has a 12-month low of $64.54 and a 12-month high of $107.17. The firm has a market cap of $155.93 billion, a P/E ratio of 84.64, a P/E/G ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. As a group, equities research analysts predict that Boston Scientific Co. will post 2.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. UBS Group increased their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Canaccord Genuity Group boosted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $107.39.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Values First Advisors Inc. bought a new stake in Boston Scientific in the third quarter valued at $28,000. Dunhill Financial LLC boosted its holdings in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates grew its position in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the last quarter. Finally, West Oak Capital LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth about $29,000. 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.