Edward J. Ludwig Sells 4,877 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Boston Scientific Trading Down 1.6 %

Shares of BSX opened at $90.00 on Monday. The firm has a market cap of $132.64 billion, a P/E ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business has a 50-day moving average of $85.99 and a 200 day moving average of $80.22.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. As a group, research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Institutional Investors Weigh In On Boston Scientific

Institutional investors have recently made changes to their positions in the stock. Passumpsic Savings Bank purchased a new position in shares of Boston Scientific in the third quarter valued at $3,015,000. M&T Bank Corp boosted its stake in Boston Scientific by 0.3% in the 3rd quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock worth $8,894,000 after purchasing an additional 370 shares during the period. Soltis Investment Advisors LLC purchased a new position in Boston Scientific during the 3rd quarter valued at about $240,000. Sunbelt Securities Inc. increased its position in shares of Boston Scientific by 16.6% during the third quarter. Sunbelt Securities Inc. now owns 1,414 shares of the medical equipment provider’s stock valued at $118,000 after buying an additional 201 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Boston Scientific by 9.4% in the third quarter. Coldstream Capital Management Inc. now owns 27,326 shares of the medical equipment provider’s stock worth $2,301,000 after buying an additional 2,346 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Citigroup increased their target price on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.