Boston Scientific Co. (NYSE:BSX) CEO Sells $13,775,817.51 in Stock

Boston Scientific Co. (NYSE:BSX) CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Boston Scientific Stock Up 1.7 %

NYSE BSX traded up $1.42 during trading on Tuesday, reaching $85.83. 5,347,735 shares of the company’s stock were exchanged, compared to its average volume of 5,974,054. The firm has a market capitalization of $125.92 billion, a PE ratio of 72.13, a P/E/G ratio of 2.78 and a beta of 0.80. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $80.25 and its 200-day simple moving average is $76.03. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $86.09.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period last year, the company earned $0.53 earnings per share. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BSX. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Morgan Stanley raised their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday. Raymond James raised their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group increased their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently made changes to their positions in the company. Putnam Investments LLC lifted its stake in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Capital World Investors lifted its stake in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP boosted its holdings in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors acquired a new position in Boston Scientific during the first quarter worth $182,897,000. Finally, Vanguard Group Inc. raised its holdings in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

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.