Boston Scientific Co. (NYSE:BSX) EVP Sells $847,509.24 in Stock

Boston Scientific Co. (NYSE:BSX – Get Rating) EVP Eric Francis Yves Thepaut sold 20,676 shares of Boston Scientific stock in a transaction on Monday, August 1st. The stock was sold at an average price of $40.99, for a total transaction of $847,509.24. Following the completion of the transaction, the executive vice president now directly owns 72,486 shares in the company, valued at $2,971,201.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boston Scientific Stock Down 0.7 %

BSX opened at $40.94 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 0.78. The business has a 50 day simple moving average of $38.31 and a 200-day simple moving average of $41.29. The stock has a market capitalization of $58.53 billion, a P/E ratio of 70.59, a P/E/G ratio of 2.25 and a beta of 0.85. Boston Scientific Co. has a 12 month low of $34.98 and a 12 month high of $47.49.

Boston Scientific (NYSE:BSX – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Boston Scientific had a return on equity of 14.72% and a net margin of 7.16%. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. Boston Scientific’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Boston Scientific Co. will post 1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its stake in shares of Boston Scientific by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 1,660,670 shares of the medical equipment provider’s stock worth $61,893,000 after purchasing an additional 6,934 shares in the last quarter. Community Capital Management LLC grew its holdings in shares of Boston Scientific by 55.0% during the second quarter. Community Capital Management LLC now owns 31,000 shares of the medical equipment provider’s stock valued at $1,155,000 after purchasing an additional 11,000 shares during the last quarter. MQS Management LLC bought a new position in shares of Boston Scientific during the second quarter valued at approximately $519,000. M&T Bank Corp grew its holdings in shares of Boston Scientific by 2.6% during the second quarter. M&T Bank Corp now owns 93,901 shares of the medical equipment provider’s stock valued at $3,456,000 after purchasing an additional 2,424 shares during the last quarter. Finally, NS Partners Ltd grew its holdings in Boston Scientific by 1.0% in the 2nd quarter. NS Partners Ltd now owns 344,710 shares of the medical equipment provider’s stock worth $12,847,000 after buying an additional 3,483 shares in the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BSX. Truist Financial dropped their target price on shares of Boston Scientific from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Wolfe Research assumed coverage on shares of Boston Scientific in a research report on Tuesday, July 5th. They set an “outperform” rating and a $43.00 price target for the company. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $43.00 to $45.00 in a report on Thursday, July 28th. Morgan Stanley dropped their price target on Boston Scientific from $51.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. Finally, Citigroup dropped their price target on Boston Scientific from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, May 17th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.55.

About Boston Scientific

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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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.