Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells $685,244.16 in Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares in the company, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

John Bradley Sorenson also recently made the following trade(s):

• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Trading Down 0.2 %

Shares of Boston Scientific stock opened at $105.80 on Thursday. Boston Scientific Co. has a 12-month low of $64.54 and a 12-month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $95.50 and its 200-day moving average is $87.72. The stock has a market cap of $155.93 billion, a P/E ratio of 84.64, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Equities research analysts predict that Boston Scientific Co. will post 2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parnassus Investments LLC raised its position in shares of Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares during the period. PDS Planning Inc raised its holdings in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after acquiring an additional 113 shares during the period. CRA Financial Services LLC raised its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after acquiring an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares during the last quarter. Finally, Adero Partners LLC boosted its holdings in shares of Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after acquiring an additional 120 shares during the period. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Morgan Stanley increased their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Bank of America boosted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada raised their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.39.

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.