Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 6,389 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 6,389 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.06, for a total value of $671,228.34. Following the completion of the sale, the executive vice president now owns 24,293 shares in the company, valued at approximately $2,552,222.58. The trade was a 20.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

John Bradley Sorenson also recently made the following trade(s):

• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The stock was sold at an average price of $104.97, for a total value of $685,244.16.
• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The stock was sold at an average price of $90.02, for a total value of $370,792.38.

Boston Scientific Stock Performance

Shares of BSX opened at $106.20 on Friday. The stock has a 50-day moving average of $96.11 and a two-hundred day moving average of $87.97. Boston Scientific Co. has a one year low of $65.33 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a market cap of $156.51 billion, a P/E ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, 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 weighed in on the company. Stifel Nicolaus increased their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Raymond James raised their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Piper Sandler raised their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group raised their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Wells Fargo & Company raised their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $107.39.

Institutional Trading of Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSX. Creative Planning lifted its position in Boston Scientific by 7.7% during the 3rd quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock worth $17,113,000 after acquiring an additional 14,663 shares during the period. NBC Securities Inc. raised its stake in shares of Boston Scientific by 20.5% during the 3rd quarter. NBC Securities Inc. now owns 11,761 shares of the medical equipment provider’s stock valued at $985,000 after buying an additional 2,001 shares during the last quarter. Swedbank AB raised its stake in shares of Boston Scientific by 0.6% during the 3rd quarter. Swedbank AB now owns 1,430,925 shares of the medical equipment provider’s stock valued at $119,912,000 after buying an additional 8,246 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Boston Scientific by 7,262.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 2,945 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 2,905 shares during the last quarter. Finally, AAFMAA Wealth Management & Trust LLC raised its stake in shares of Boston Scientific by 10.4% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 32,732 shares of the medical equipment provider’s stock valued at $2,743,000 after buying an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

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.