Insider Selling: Boston Scientific Corporation (BSX) SVP Sells 8,763 Shares of Stock

Boston Scientific Corporation (NYSE:BSX) SVP David A. Pierce sold 8,763 shares of the stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $27.74, for a total transaction of $243,085.62. Following the sale, the senior vice president now directly owns 24,201 shares of the company’s stock, valued at approximately $671,335.74. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of Boston Scientific Corporation (NYSE BSX) opened at $27.46 on Friday. Boston Scientific Corporation has a 12-month low of $23.29 and a 12-month high of $29.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.50. The company has a market cap of $37,707.96, a PE ratio of 22.51, a PEG ratio of 1.96 and a beta of 0.96.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period last year, the company posted $0.27 EPS. Boston Scientific’s revenue was up 5.6% on a year-over-year basis. research analysts predict that Boston Scientific Corporation will post 1.25 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Securities Inc. lifted its position in Boston Scientific by 0.9% during the 2nd quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock valued at $318,000 after acquiring an additional 99 shares during the period. ETRADE Capital Management LLC lifted its position in Boston Scientific by 1.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock valued at $279,000 after acquiring an additional 171 shares during the period. Krilogy Financial LLC lifted its position in Boston Scientific by 5.9% during the 2nd quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock valued at $213,000 after acquiring an additional 430 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Boston Scientific by 6.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,441 shares of the medical equipment provider’s stock valued at $317,000 after acquiring an additional 653 shares during the period. Finally, Nordea Investment Management AB lifted its position in Boston Scientific by 1.0% during the 2nd quarter. Nordea Investment Management AB now owns 74,422 shares of the medical equipment provider’s stock valued at $2,063,000 after acquiring an additional 701 shares during the period. 90.36% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on BSX shares. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a research report on Monday, September 25th. SunTrust Banks reissued a “buy” rating and set a $34.00 price target on shares of Boston Scientific in a research report on Monday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 target price on shares of Boston Scientific in a research report on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 target price on shares of Boston Scientific in a research report on Friday, October 13th. Finally, Zacks Investment Research cut shares of Boston Scientific from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $31.00.

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About Boston Scientific

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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

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