Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 2,657 Shares of Stock

Boston Scientific Co. (NYSE:BSX - Get Free Report) EVP John Bradley Sorenson sold 2,657 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the sale, the executive vice president now directly owns 24,294 shares of the company's stock, valued at approximately $2,536,536.54. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, February 14th, John Bradley Sorenson sold 1,201 shares of Boston Scientific stock. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31.
• On Wednesday, February 12th, John Bradley Sorenson sold 6,389 shares of Boston Scientific stock. The shares were sold at an average price of $105.06, for a total transaction of $671,228.34.
• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16.
• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Stock Performance

BSX stock traded down $0.93 during trading hours on Friday, reaching $104.44. The stock had a trading volume of 5,512,880 shares, compared to its average volume of 6,033,932. The stock has a market capitalization of $154.12 billion, a PE ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a 50-day simple moving average of $97.98 and a 200 day simple moving average of $89.27. Boston Scientific Co. has a fifty-two week low of $65.52 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Thursday, February 6th. StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Mizuho increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and an average target price of $107.39.

Hedge Funds Weigh In On Boston Scientific

Several large investors have recently modified their holdings of BSX. Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter valued at about $1,762,522,000. Capital World Investors raised its position in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Wellington Management Group LLP raised its position in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the period. Finally, Axiom Investors LLC DE raised its position in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock valued at $335,167,000 after purchasing an additional 2,535,007 shares during the period. 89.07% of the stock is owned by institutional investors.

About Boston Scientific

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.