Boston Scientific Co. (NYSE:BSX) EVP Sells $570,511.10 in Stock

Boston Scientific Co. (NYSE:BSX) EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wendy Carruthers also recently made the following trade(s):

• On Thursday, August 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The shares were sold at an average price of $74.12, for a total value of $517,579.96.
• On Monday, July 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The stock was sold at an average price of $77.30, for a total value of $539,785.90.

Boston Scientific Price Performance

Shares of BSX stock opened at $81.39 on Friday. The firm has a market cap of $119.41 billion, a price-to-earnings ratio of 68.39, a PEG ratio of 2.71 and a beta of 0.78. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $82.47. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $77.30 and a 200 day moving average price of $73.37.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the company earned $0.53 EPS. Boston Scientific’s revenue was up 14.5% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial increased their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Raymond James increased their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday. Barclays boosted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Mizuho upped their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the second quarter valued at about $26,000. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC boosted its stake in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Andra AP fonden acquired a new position in Boston Scientific during the second quarter valued at approximately $29,000. Finally, Lynx Investment Advisory bought a new stake in Boston Scientific in the second quarter valued at approximately $30,000. Institutional investors and hedge funds 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.