Traders purchased shares of Boston Scientific Co. (NYSE:BSX) on weakness during trading on Monday after an insider sold shares in the company. $40.94 million flowed into the stock on the tick-up and $22.81 million flowed out of the stock on the tick-down, for a money net flow of $18.13 million into the stock. Of all stocks tracked, Boston Scientific had the 31st highest net in-flow for the day. Boston Scientific traded down ($0.45) for the day and closed at $36.36Specifically, SVP John Bradley Sorenson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.86, for a total transaction of $358,600.00. Following the transaction, the senior vice president now directly owns 44,636 shares of the company’s stock, valued at $1,600,646.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $38.80, for a total value of $194,000.00. The disclosure for this sale can be found here. Insiders have sold 412,500 shares of company stock worth $15,292,977 over the last three months. Insiders own 0.73% of the company’s stock.
Several research firms have recently issued reports on BSX. Stifel Nicolaus reissued a “buy” rating and set a $37.00 target price on shares of Boston Scientific in a research note on Thursday, July 26th. Guggenheim reissued a “buy” rating and set a $43.00 target price on shares of Boston Scientific in a research note on Friday, July 27th. Jefferies Financial Group reissued a “hold” rating and set a $34.00 target price on shares of Boston Scientific in a research note on Thursday, July 26th. Argus boosted their target price on Boston Scientific to $41.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Finally, Royal Bank of Canada boosted their target price on Boston Scientific to $42.00 and gave the company a “top pick” rating in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $39.00.
The company has a market capitalization of $50.94 billion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.56.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. On average, analysts predict that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Boston Scientific by 10.4% in the second quarter. FMR LLC now owns 156,622,452 shares of the medical equipment provider’s stock worth $5,121,554,000 after acquiring an additional 14,711,069 shares during the last quarter. BlackRock Inc. grew its stake in shares of Boston Scientific by 2.9% in the second quarter. BlackRock Inc. now owns 109,355,395 shares of the medical equipment provider’s stock worth $3,575,920,000 after acquiring an additional 3,062,924 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Boston Scientific by 0.7% in the second quarter. Janus Henderson Group PLC now owns 41,739,459 shares of the medical equipment provider’s stock worth $1,364,885,000 after acquiring an additional 273,848 shares during the last quarter. Standard Life Aberdeen plc grew its stake in shares of Boston Scientific by 1.3% in the second quarter. Standard Life Aberdeen plc now owns 13,998,353 shares of the medical equipment provider’s stock worth $457,817,000 after acquiring an additional 178,939 shares during the last quarter. Finally, Putnam Investments LLC grew its stake in shares of Boston Scientific by 14.4% in the second quarter. Putnam Investments LLC now owns 10,003,513 shares of the medical equipment provider’s stock worth $327,115,000 after acquiring an additional 1,258,287 shares during the last quarter. 91.24% of the stock is currently owned by institutional investors.
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Boston Scientific Company Profile (NYSE:BSX)
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.
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