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

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

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $90.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $85.99 and its two-hundred day moving average price is $80.12. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93. The stock has a market capitalization of $132.64 billion, a P/E ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79.

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

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds have recently made changes to their positions in BSX. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the second quarter worth approximately $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific during the third quarter worth approximately $28,000. Dunhill Financial LLC raised its holdings in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Andra AP fonden bought a new stake in Boston Scientific during the second quarter worth approximately $29,000. Finally, Lynx Investment Advisory bought a new stake in Boston Scientific during the second quarter worth approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Canaccord Genuity Group raised their target price on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Evercore ISI raised their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.