Insider Selling: Boston Scientific Corporation (BSX) SVP Sells 8,763 Shares of Stock
Boston Scientific Corporation (NYSE:BSX) SVP David A. Pierce sold 8,763 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $27.74, for a total transaction of $243,085.62. Following the transaction, the senior vice president now directly owns 24,201 shares in the company, valued at $671,335.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Boston Scientific Corporation (NYSE:BSX) traded down $0.09 during midday trading on Friday, reaching $27.43. 8,984,300 shares of the company’s stock traded hands, compared to its average volume of 12,317,837. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Boston Scientific Corporation has a fifty-two week low of $23.03 and a fifty-two week high of $29.93. The stock has a market capitalization of $37,730.00, a price-to-earnings ratio of 44.97, a P/E/G ratio of 1.82 and a beta of 0.96.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 earnings per share. analysts forecast that Boston Scientific Corporation will post 1.25 EPS for the current year.
Several equities analysts recently issued reports on BSX shares. Canaccord Genuity cut their price objective on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets reissued a “buy” rating and set a $30.00 price objective on shares of Boston Scientific in a report on Friday, October 13th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, November 29th. Finally, Royal Bank of Canada raised shares of Boston Scientific from an “outperform” rating to a “top pick” rating in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $31.00.
Several institutional investors and hedge funds have recently made changes to their positions in BSX. Schroder Investment Management Group grew its holdings in shares of Boston Scientific by 3.2% during the second quarter. Schroder Investment Management Group now owns 275,180 shares of the medical equipment provider’s stock valued at $7,656,000 after buying an additional 8,623 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Boston Scientific by 26.6% during the second quarter. Private Advisor Group LLC now owns 19,376 shares of the medical equipment provider’s stock valued at $534,000 after buying an additional 4,069 shares during the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Boston Scientific by 8.7% during the second quarter. Commonwealth Bank of Australia now owns 73,572 shares of the medical equipment provider’s stock valued at $2,038,000 after buying an additional 5,919 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Boston Scientific during the second quarter valued at $663,000. Finally, Financial Counselors Inc. purchased a new stake in shares of Boston Scientific during the second quarter valued at $209,000. 90.36% of the stock is currently owned by hedge funds and other institutional investors.
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Boston Scientific 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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