Boston Scientific Co. (NYSE:BSX) CEO Sells $16,852,118.64 in Stock

Boston Scientific Co. (NYSE:BSX) CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. This represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Boston Scientific Trading Up 0.7 %

BSX opened at $104.81 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company’s 50 day moving average price is $98.73 and its two-hundred day moving average price is $95.72. The firm has a market capitalization of $155.06 billion, a price-to-earnings ratio of 83.85, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. As a group, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BSX shares. Truist Financial raised their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Citigroup boosted their price target on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $114.52.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BSX. N.E.W. Advisory Services LLC acquired a new stake in shares of Boston Scientific during the first quarter worth $71,000. Kirtland Hills Capital Management LLC grew its holdings in Boston Scientific by 2.5% during the 1st quarter. Kirtland Hills Capital Management LLC now owns 10,504 shares of the medical equipment provider’s stock worth $999,000 after acquiring an additional 261 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Boston Scientific by 9.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 34,160 shares of the medical equipment provider’s stock valued at $3,446,000 after purchasing an additional 2,895 shares during the period. Clarendon Private LLC boosted its position in shares of Boston Scientific by 14.5% during the 1st quarter. Clarendon Private LLC now owns 9,009 shares of the medical equipment provider’s stock valued at $909,000 after purchasing an additional 1,142 shares in the last quarter. Finally, Picton Mahoney Asset Management grew its stake in Boston Scientific by 4.7% during the first quarter. Picton Mahoney Asset Management now owns 294,465 shares of the medical equipment provider’s stock worth $29,706,000 after purchasing an additional 13,344 shares during the period. Institutional investors own 89.07% 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 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.