Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson Sells 4,119 Shares

Boston Scientific Co. (NYSE:BSX - Get Free Report) EVP John Bradley Sorenson sold 4,119 shares of the company'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 completion of the sale, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Boston Scientific Price Performance

Shares of BSX traded up $1.31 during mid-day trading on Friday, reaching $90.69. The stock had a trading volume of 3,439,023 shares, compared to its average volume of 3,404,011. The firm has a market cap of $133.66 billion, a price-to-earnings ratio of 74.95, a PEG ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $57.58 and a 12 month high of $91.93. The business has a fifty day moving average of $88.86 and a 200 day moving average of $83.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on BSX shares. Sanford C. Bernstein raised their price objective 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. Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Mizuho lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific has a consensus rating of "Moderate Buy" and an average target price of $95.96.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently bought and sold shares of BSX. Marshall Wace LLP grew its position in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock valued at $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Boston Scientific by 4,292.3% during 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 buying an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock valued at $608,349,000 after buying an additional 1,824,405 shares in the last quarter. State Street Corp increased its stake in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock worth $184,810,000 after acquiring an additional 1,091,561 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.