Edward J. Ludwig Sells 4,877 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Boston Scientific Stock Performance

BSX stock traded down $1.50 during midday trading on Friday, reaching $90.00. The stock had a trading volume of 5,419,721 shares, compared to its average volume of 6,077,987. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a fifty day simple moving average of $85.86 and a two-hundred day simple moving average of $80.00. The stock has a market cap of $132.64 billion, a PE ratio of 75.66, a P/E/G ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BSX shares. Mizuho upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Citigroup increased their target price on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Canaccord Genuity Group boosted their target price on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Robert W. Baird raised their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.39.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors have recently modified their holdings of BSX. State Street Corp grew its holdings in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP lifted its stake in Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC boosted its stake in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares during the period. Legal & General Group Plc increased its stake in Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after purchasing an additional 64,720 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.