Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells $1,762,463.40 in Stock

Boston Scientific Co. (NYSE:BSX) EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Boston Scientific Trading Up 0.0 %

Shares of Boston Scientific stock opened at $105.01 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $64.39 and a 1 year high of $107.17. The company has a market capitalization of $154.76 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.68 and a beta of 0.80. The business has a 50 day moving average price of $94.30 and a 200 day moving average price of $86.84.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Sell-side analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AustralianSuper Pty Ltd raised its holdings in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $190,780,000. State Street Corp grew its stake in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 valued at $184,810,000 after buying an additional 1,091,561 shares during the period. Finally, Fisher Funds Management LTD purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $94,710,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BSX shares. TD Cowen raised their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a report on Friday, January 10th. Piper Sandler lifted their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada lifted their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $104.26.

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.