Boston Scientific Co. (BSX) Chairman Michael F. Mahoney Sells 116,666 Shares of Stock

Boston Scientific Co. (NYSE:BSX) Chairman Michael F. Mahoney sold 116,666 shares of Boston Scientific stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $36.35, for a total transaction of $4,240,809.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of BSX stock traded down $0.18 during mid-day trading on Friday, reaching $36.81. The stock had a trading volume of 4,560,864 shares, compared to its average volume of 8,711,372. Boston Scientific Co. has a 52-week low of $24.54 and a 52-week high of $39.44. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 29.21, a PEG ratio of 2.37 and a beta of 0.68. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 0.58.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts predict that Boston Scientific Co. will post 1.39 EPS for the current year.

A number of brokerages recently commented on BSX. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a research report on Tuesday, October 16th. Oppenheimer set a $38.00 target price on shares of Boston Scientific and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Canaccord Genuity lifted their target price on shares of Boston Scientific from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Royal Bank of Canada lifted their target price on shares of Boston Scientific to $36.00 and gave the stock a “top pick” rating in a research report on Monday, July 23rd. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $39.00.

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. increased its position in shares of Boston Scientific by 7.8% in the second quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after acquiring an additional 278,777 shares during the period. Waddell & Reed Financial Inc. bought a new stake in shares of Boston Scientific during the 2nd quarter valued at about $5,559,000. Cubist Systematic Strategies LLC boosted its stake in shares of Boston Scientific by 3.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after purchasing an additional 1,547 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Boston Scientific by 2.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock valued at $31,583,000 after purchasing an additional 19,383 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Boston Scientific by 63.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after purchasing an additional 124,350 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Boston Scientific Company Profile

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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Insider Buying and Selling by Quarter for Boston Scientific (NYSE:BSX)

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