Edward J. Ludwig Sells 4,877 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boston Scientific Stock Performance

Shares of BSX opened at $90.00 on Friday. The company’s 50 day simple moving average is $85.99 and its 200-day simple moving average is $80.16. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93. The firm has a market cap of $132.64 billion, a PE ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. 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) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the firm posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Sanford C. Bernstein lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Mizuho boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup increased their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Four investment 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. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Institutional Trading of Boston Scientific

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSX. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the second quarter worth approximately $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific during the 3rd quarter worth $28,000. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Andra AP fonden purchased a new stake in shares of Boston Scientific in the second quarter valued at about $29,000. Finally, Lynx Investment Advisory purchased a new stake in shares of Boston Scientific in the second quarter valued at about $30,000. 89.07% of the stock is owned by hedge funds and other 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.