Boston Scientific Co. (NYSE:BSX) SVP Wendy Carruthers sold 1,500 shares of Boston Scientific stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $36.64, for a total value of $54,960.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of NYSE BSX traded up $0.49 during midday trading on Tuesday, reaching $36.85. The company had a trading volume of 4,151,044 shares, compared to its average volume of 7,622,089. Boston Scientific Co. has a one year low of $24.54 and a one year high of $39.44. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The firm has a market cap of $50.94 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 2.42 and a beta of 0.68.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the company posted $0.31 EPS. Boston Scientific’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities research analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. ING Groep NV purchased a new position in Boston Scientific during the 3rd quarter valued at about $7,356,000. Commonwealth Equity Services LLC increased its holdings in Boston Scientific by 8.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 69,205 shares of the medical equipment provider’s stock valued at $2,664,000 after purchasing an additional 5,425 shares during the period. Cannell Peter B & Co. Inc. increased its holdings in Boston Scientific by 4.1% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 1,310,810 shares of the medical equipment provider’s stock valued at $50,466,000 after purchasing an additional 51,425 shares during the period. Janney Montgomery Scott LLC increased its holdings in Boston Scientific by 8.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 121,286 shares of the medical equipment provider’s stock valued at $4,670,000 after purchasing an additional 9,174 shares during the period. Finally, Comerica Securities Inc. increased its holdings in Boston Scientific by 14.8% during the 3rd quarter. Comerica Securities Inc. now owns 16,744 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 2,157 shares during the period. Institutional investors own 91.24% of the company’s stock.
BSX has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on Boston Scientific to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 10th. Zacks Investment Research lowered Boston Scientific from a “buy” rating to a “sell” rating in a research note on Tuesday, July 17th. SunTrust Banks lifted their price target on Boston Scientific to $39.00 and gave the stock a “buy” rating in a research note on Monday, July 23rd. Royal Bank of Canada lifted their price target on Boston Scientific to $36.00 and gave the stock a “top pick” rating in a research note on Monday, July 23rd. Finally, Piper Jaffray Companies lifted their price target on Boston Scientific to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Boston Scientific presently has an average rating of “Buy” and a consensus price target of $39.00.
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About Boston Scientific
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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