Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan Sells 67,333 Shares

Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Boston Scientific Price Performance

BSX traded up $0.28 during trading hours on Wednesday, hitting $105.63. The company’s stock had a trading volume of 4,304,855 shares, compared to its average volume of 6,048,416. The stock has a market cap of $155.68 billion, a price-to-earnings ratio of 84.50, a P/E/G ratio of 2.81 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $65.33 and a 12 month high of $107.17. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $97.09 and its 200-day moving average price is $88.82.

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 the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. Sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the topic of several recent analyst reports. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Barclays upped their price objective on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Stifel Nicolaus lifted their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Truist Financial upped 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. Finally, Bank of America increased 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. One 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, the company currently has a consensus rating of “Buy” and a consensus price target of $107.39.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. State Street Corp boosted its stake in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC increased its stake in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after buying an additional 1,041,329 shares during the period. Finally, Capital World Investors lifted its holdings in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after buying an additional 6,216,199 shares in the last quarter. Institutional investors 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.