Traders Sell Shares of Boston Scientific Corp. (BSX) on Strength (BSX)
Traders sold shares of Boston Scientific Corp. (NYSE:BSX) on strength during trading hours on Friday. $12.79 million flowed into the stock on the tick-up and $38.08 million flowed out of the stock on the tick-down, for a money net flow of $25.29 million out of the stock. Of all stocks tracked, Boston Scientific Corp. had the 0th highest net out-flow for the day. Boston Scientific Corp. traded up $0.20 for the day and closed at $23.97
BSX has been the topic of a number of research reports. Leerink Swann restated a “buy” rating and issued a $27.50 price target (up previously from $25.50) on shares of Boston Scientific Corp. in a report on Friday, June 17th. Guggenheim initiated coverage on Boston Scientific Corp. in a report on Wednesday, June 8th. They issued a “buy” rating and a $26.00 price target on the stock. Zacks Investment Research upgraded Boston Scientific Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Thursday, May 12th. Needham & Company LLC upped their target price on Boston Scientific Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Finally, Benchmark Co. upped their target price on Boston Scientific Corp. from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Six equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.70.
The firm’s 50 day moving average is $23.93 and its 200 day moving average is $21.24. The firm’s market capitalization is $32.62 billion.
Boston Scientific Corp. (NYSE:BSX) last issued its earnings results on Thursday, July 28th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. During the same period last year, the business earned $0.22 EPS. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.05 billion. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts predict that Boston Scientific Corp. will post $1.10 EPS for the current fiscal year.
In other Boston Scientific Corp. news, EVP Timothy A. Pratt sold 24,229 shares of Boston Scientific Corp. stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $22.66, for a total transaction of $549,029.14. Following the completion of the sale, the executive vice president now owns 301,724 shares of the company’s stock, valued at approximately $6,837,065.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 100,000 shares of Boston Scientific Corp. stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $22.69, for a total transaction of $2,269,000.00. Following the sale, the chief executive officer now directly owns 1,532,577 shares of the company’s stock, valued at approximately $34,774,172.13. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of Boston Scientific Corp. by 9.2% in the fourth quarter. Ameriprise Financial Inc. now owns 4,329,316 shares of the company’s stock worth $79,834,000 after buying an additional 364,201 shares during the period. State of Tennessee Treasury Department raised its stake in shares of Boston Scientific Corp. by 165.7% in the fourth quarter. State of Tennessee Treasury Department now owns 543,062 shares of the company’s stock worth $10,014,000 after buying an additional 338,662 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Boston Scientific Corp. by 18.1% in the fourth quarter. Bank of Montreal Can now owns 522,744 shares of the company’s stock worth $9,639,000 after buying an additional 80,052 shares during the period.
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven core businesses: Interventional Cardiology, Peripheral Interventions (PI), Cardiac Rhythm Management (CRM), Electrophysiology (EP), Endoscopy, Urology and Pelvic Health, and Neuromodulation.
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