Boston Scientific (NYSE:BSX) Hits New 12-Month High - Here's What Happened

Boston Scientific Co. (NYSE:BSX - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $97.17 and last traded at $96.87, with a volume of 555965 shares traded. The stock had previously closed at $95.65.

Analyst Ratings Changes

BSX has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Truist Financial boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific presently has an average rating of "Moderate Buy" and an average price target of $97.26.

Boston Scientific Trading Up 1.3 %

The firm's 50-day moving average price is $90.36 and its 200 day moving average price is $84.15. The company has a market cap of $142.77 billion, a price-to-earnings ratio of 80.06, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. During the same period last year, the company posted $0.50 earnings per share. The business's quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company's stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares of the company's stock, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Values First Advisors Inc. bought a new position in Boston Scientific during the 3rd quarter valued at $28,000. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth approximately $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific in the third quarter valued at approximately $30,000. Institutional investors own 89.07% of the company's stock.

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.