Daniel J. Brennan Sells 15,087 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan sold 15,087 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the sale, the chief financial officer now owns 241,451 shares of the company’s stock, valued at approximately $25,369,256.57. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $106.20 on Friday. 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 firm’s 50-day moving average price is $96.11 and its two-hundred day moving average price is $87.97. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. The stock has a market capitalization of $156.51 billion, a P/E ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. Creative Planning raised its holdings in shares of Boston Scientific by 7.7% during the third quarter. Creative Planning now owns 204,208 shares of the medical equipment provider’s stock valued at $17,113,000 after buying an additional 14,663 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Boston Scientific by 20.5% during the third quarter. NBC Securities Inc. now owns 11,761 shares of the medical equipment provider’s stock valued at $985,000 after acquiring an additional 2,001 shares during the period. Swedbank AB increased its stake in shares of Boston Scientific by 0.6% during the third quarter. Swedbank AB now owns 1,430,925 shares of the medical equipment provider’s stock valued at $119,912,000 after acquiring an additional 8,246 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of Boston Scientific by 7,262.5% during the third quarter. Wolff Wiese Magana LLC now owns 2,945 shares of the medical equipment provider’s stock valued at $247,000 after acquiring an additional 2,905 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC increased its stake in shares of Boston Scientific by 10.4% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 32,732 shares of the medical equipment provider’s stock valued at $2,743,000 after acquiring an additional 3,077 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial increased their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Piper Sandler raised their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Finally, Canaccord Genuity Group raised their target price on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price 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.