Boston Scientific Co. (NYSE:BSX) EVP Sells $517,579.96 in Stock

Boston Scientific Co. (NYSE:BSX) EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wendy Carruthers also recently made the following trade(s):

• On Monday, July 1st, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90.
• On Monday, June 3rd, Wendy Carruthers sold 6,983 shares of Boston Scientific stock. The shares were sold at an average price of $75.33, for a total value of $526,029.39.

Boston Scientific Trading Down 0.9 %

Shares of BSX stock opened at $74.50 on Friday. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $76.42 and a 200-day moving average of $70.91. The firm has a market cap of $109.30 billion, a P/E ratio of 62.61, a PEG ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. Sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BSX. BTIG Research boosted their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC raised their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays boosted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. UBS Group raised their price target on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group assumed coverage on Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.76.

Institutional Investors Weigh In On Boston Scientific

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. Primecap Management Co. CA lifted its position in shares of Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after acquiring an additional 550,490 shares in the last quarter. Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter worth $930,626,000. Capital World Investors grew its position in shares of Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

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.