Investors Sell Shares of Boston Scientific Corporation (BSX) on Strength (BSX)
Investors sold shares of Boston Scientific Corporation (NYSE:BSX) on strength during trading 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 0th highest net out-flow for the day. Boston Scientific Corporation traded up $0.07 for the day and closed at $27.57
A number of equities analysts have recently weighed in on BSX shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Boston Scientific Corporation in a research note on Tuesday, May 16th. They set a “neutral” rating and a $28.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of Boston Scientific Corporation from $29.00 to $31.00 and gave the stock 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 reaffirmed an “outperform” rating and set a $31.00 price target (up from $29.50) on shares of Boston Scientific Corporation in a research note on Friday, June 16th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Boston Scientific Corporation presently has a consensus rating of “Buy” and a consensus target price of $29.88.
The stock has a market cap of $38.67 billion, a P/E ratio of 50.41 and a beta of 1.09. The stock’s 50-day moving average price is $27.01 and its 200-day moving average price is $26.34.
Boston Scientific Corporation (NYSE:BSX) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter last year, the company posted $0.27 EPS. Boston Scientific Corporation’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts predict that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
In related news, CFO Daniel J. Brennan sold 92,158 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total value of $2,532,501.84. Following the completion of the transaction, the chief financial officer now owns 235,421 shares in the company, valued at approximately $6,469,369.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Pratt sold 10,104 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $27.46, for a total value of $277,455.84. Following the completion of the transaction, the executive vice president now owns 185,742 shares of the company’s stock, valued at approximately $5,100,475.32. The disclosure for this sale can be found here. Insiders sold a total of 288,819 shares of company stock valued at $7,892,130 in the last quarter. 0.74% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in BSX. BlackRock Inc. boosted its position in Boston Scientific Corporation by 2,181.6% during the 1st quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock worth $2,381,169,000 after acquiring an additional 91,548,235 shares during the period. Janus Henderson Group PLC boosted its position in Boston Scientific Corporation by 22,491.6% during the 2nd quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock worth $1,077,270,000 after acquiring an additional 38,690,577 shares during the period. FMR LLC boosted its position in Boston Scientific Corporation by 7.6% during the 1st quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock worth $4,593,698,000 after acquiring an additional 13,105,596 shares during the period. Jennison Associates LLC boosted its position in Boston Scientific Corporation by 405.3% during the 2nd quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock worth $294,921,000 after acquiring an additional 8,533,655 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Boston Scientific Corporation during the 1st quarter worth about $149,859,000. Institutional investors and hedge funds own 90.52% of the company’s stock.
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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