Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan sold 46,360 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $40.02, for a total transaction of $1,855,327.20. Following the transaction, the chief financial officer now owns 214,960 shares in the company, valued at $8,602,699.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NYSE:BSX opened at $40.21 on Monday. The firm has a market capitalization of $55.73 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 2.30 and a beta of 0.88. Boston Scientific Co. has a 1 year low of $26.27 and a 1 year high of $41.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.76 and a quick ratio of 0.54.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Boston Scientific had a net margin of 17.01% and a return on equity of 25.92%. Boston Scientific’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 earnings per share. As a group, equities analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current year.
Several research firms have recently commented on BSX. Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a report on Monday, January 7th. SunTrust Banks restated a “buy” rating and set a $47.00 price target on shares of Boston Scientific in a report on Friday, February 8th. Argus boosted their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. BTIG Research restated a “buy” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a report on Monday, February 11th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $40.54.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Boston Scientific by 5.5% during the 3rd quarter. FMR LLC now owns 165,239,463 shares of the medical equipment provider’s stock worth $6,361,719,000 after acquiring an additional 8,617,011 shares during the last quarter. BlackRock Inc. lifted its position in Boston Scientific by 3.7% during the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after acquiring an additional 4,195,164 shares during the last quarter. Vanguard Group Inc lifted its position in Boston Scientific by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock worth $3,905,954,000 after acquiring an additional 1,367,053 shares during the last quarter. Capital Research Global Investors lifted its position in Boston Scientific by 83.3% during the 3rd quarter. Capital Research Global Investors now owns 19,394,528 shares of the medical equipment provider’s stock worth $746,689,000 after acquiring an additional 8,814,601 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Boston Scientific by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after acquiring an additional 1,724,046 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.
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: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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