Insider Selling: Boston Scientific Co. (BSX) EVP Sells $50,869.50 in Stock

Boston Scientific Co. (NYSE:BSX) EVP David A. Pierce sold 1,650 shares of Boston Scientific stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $30.83, for a total value of $50,869.50. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of Boston Scientific traded up $0.61, reaching $32.34, during midday trading on Thursday, according to Marketbeat.com. The company’s stock had a trading volume of 208,156 shares, compared to its average volume of 8,243,987. The company has a current ratio of 0.82, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68. Boston Scientific Co. has a fifty-two week low of $24.54 and a fifty-two week high of $37.30. The company has a market cap of $47.36 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.45 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Boston Scientific had a net margin of 1.21% and a return on equity of 25.10%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. equities research analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Boston Scientific by 2.7% in the first quarter. Commonwealth Equity Services LLC now owns 71,279 shares of the medical equipment provider’s stock valued at $1,947,000 after buying an additional 1,850 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Boston Scientific by 2.1% in the first quarter. Moneta Group Investment Advisors LLC now owns 92,525 shares of the medical equipment provider’s stock valued at $2,528,000 after buying an additional 1,925 shares in the last quarter. Wealthfront Inc. raised its position in shares of Boston Scientific by 7.8% in the first quarter. Wealthfront Inc. now owns 28,785 shares of the medical equipment provider’s stock valued at $786,000 after buying an additional 2,083 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Boston Scientific by 5.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 38,234 shares of the medical equipment provider’s stock valued at $1,044,000 after buying an additional 2,143 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in shares of Boston Scientific by 0.6% in the first quarter. State Treasurer State of Michigan now owns 404,796 shares of the medical equipment provider’s stock valued at $11,059,000 after buying an additional 2,300 shares in the last quarter. Institutional investors own 89.02% of the company’s stock.

A number of equities analysts recently commented on the company. ValuEngine upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Monday. Argus lifted their price target on Boston Scientific from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, June 7th. Zacks Investment Research upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, May 21st. TheStreet upgraded Boston Scientific from a “c” rating to an “a-” rating in a report on Tuesday, May 29th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $31.00 price target on shares of Boston Scientific in a report on Thursday, April 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $32.39.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

Insider Buying and Selling by Quarter for Boston Scientific (NYSE:BSX)

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