Investors Sell Boston Scientific Corporation (BSX) on Strength (BSX)
Investors sold shares of Boston Scientific Corporation (NYSE:BSX) on strength during trading hours on Tuesday. $4.68 million flowed into the stock on the tick-up and $8.94 million flowed out of the stock on the tick-down, for a money net flow of $4.26 million out of the stock. Of all companies tracked, Boston Scientific Corporation had the 49th highest net out-flow for the day. Boston Scientific Corporation traded up $0.07 for the day and closed at $27.57
BSX has been the topic of several recent research reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Boston Scientific Corporation in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $28.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on shares of Boston Scientific Corporation from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, June 9th. BidaskClub raised shares of Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Wells Fargo & Company reissued an “outperform” rating and issued a $31.00 price objective (up from $29.50) on shares of Boston Scientific Corporation in a research note on Friday, June 16th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $30.00 price objective on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.88.
The company has a 50 day moving average of $27.00 and a 200-day moving average of $26.33. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 49.32 and a beta of 1.09.
Boston Scientific Corporation (NYSE:BSX) last released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. Boston Scientific Corporation’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. Equities research analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.
In related news, EVP Timothy A. Pratt sold 10,104 shares of Boston Scientific Corporation stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $27.46, for a total value of $277,455.84. Following the transaction, the executive vice president now owns 185,742 shares of the company’s stock, valued at approximately $5,100,475.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific Corporation stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $28.02, for a total value of $434,310.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,819 shares of company stock worth $7,892,130. 0.74% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its stake in Boston Scientific Corporation by 7.2% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after purchasing an additional 338 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Boston Scientific Corporation by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after purchasing an additional 49 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Boston Scientific Corporation by 157.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after purchasing an additional 3,100 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Boston Scientific Corporation in the 2nd quarter worth about $191,000. Finally, Peddock Capital Advisors LLC purchased a new position in Boston Scientific Corporation in the 2nd quarter worth about $201,000. 90.52% of the stock is currently owned by hedge funds and other institutional investors.
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Boston Scientific Corporation Company Profile
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 businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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