Insider Selling: Boston Scientific Co. (NYSE:BSX) EVP Sells 2,657 Shares of Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 2,657 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the completion of the transaction, the executive vice president now directly owns 24,294 shares of the company’s stock, valued at approximately $2,536,536.54. This trade represents a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

John Bradley Sorenson also recently made the following trade(s):

• On Friday, February 14th, John Bradley Sorenson sold 1,201 shares of Boston Scientific stock. The stock was sold at an average price of $106.31, for a total value of $127,678.31.
• On Wednesday, February 12th, John Bradley Sorenson sold 6,389 shares of Boston Scientific stock. The shares were sold at an average price of $105.06, for a total value of $671,228.34.
• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The stock was sold at an average price of $104.97, for a total value of $685,244.16.
• On Thursday, January 2nd, John Bradley Sorenson sold 4,119 shares of Boston Scientific stock. The stock was sold at an average price of $90.02, for a total transaction of $370,792.38.

Boston Scientific Stock Performance

Shares of BSX stock opened at $105.63 on Thursday. The company has a market capitalization of $155.68 billion, a P/E ratio of 84.50, a PEG ratio of 2.81 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $65.33 and a fifty-two week high of $107.17. 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 stock has a 50 day moving average price of $97.39 and a two-hundred day moving average price of $88.94.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Institutional Trading of Boston Scientific

Large investors have recently modified their holdings of the business. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the 4th quarter worth approximately $25,000. Colonial Trust Co SC raised its holdings in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares in the last quarter. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the period. Global Wealth Strategies & Associates boosted its holdings in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares in the last quarter. Finally, West Oak Capital LLC purchased a new position in Boston Scientific during the 4th quarter valued at $29,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Canaccord Genuity Group increased their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays boosted their target price on Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Finally, UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $107.39.

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.