Boston Scientific Co. (NYSE:BSX) Director Sells $719,561.22 in Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boston Scientific Stock Performance

Boston Scientific stock opened at $72.21 on Thursday. The stock’s 50 day simple moving average is $68.20 and its two-hundred day simple moving average is $61.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The stock has a market cap of $108.32 billion, a price-to-earnings ratio of 60.68, a PEG ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the previous year, the firm posted $0.45 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Institutional Trading of Boston Scientific

Large investors have recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC bought a new stake in Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $32,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on BSX. Citigroup increased their target price on Boston Scientific from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Argus raised their price objective on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen raised their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, UBS Group raised their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.09.

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.