John Bradley Sorenson Sells 4,572 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

John Bradley Sorenson also recently made the following trade(s):

• On Tuesday, February 18th, John Bradley Sorenson sold 2,657 shares of Boston Scientific stock. The shares were sold at an average price of $104.41, for a total value of $277,417.37.
• On Friday, February 14th, John Bradley Sorenson sold 1,201 shares of Boston Scientific stock. The shares were sold at an average price of $106.31, for a total value of $127,678.31.
• On Wednesday, February 12th, John Bradley Sorenson sold 6,389 shares of Boston Scientific stock. The stock was sold at an average price of $105.06, for a total value of $671,228.34.
• On Friday, February 7th, John Bradley Sorenson sold 6,528 shares of Boston Scientific stock. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16.

Boston Scientific Stock Down 1.4 %

Shares of Boston Scientific stock opened at $103.32 on Friday. The company has a 50-day moving average of $98.70 and a 200 day moving average of $95.83. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The firm has a market cap of $152.86 billion, a price-to-earnings ratio of 82.66, a PEG ratio of 2.79 and a beta of 0.68. 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 (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in Boston Scientific by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after buying an additional 111,724 shares during the last quarter. Nordea Investment Management AB raised its position in Boston Scientific by 6.7% in the fourth quarter. Nordea Investment Management AB now owns 119,535 shares of the medical equipment provider’s stock worth $10,713,000 after acquiring an additional 7,540 shares during the period. CWA Asset Management Group LLC grew its position in shares of Boston Scientific by 4.2% during the 4th quarter. CWA Asset Management Group LLC now owns 8,281 shares of the medical equipment provider’s stock valued at $740,000 after acquiring an additional 336 shares during the period. Bank of New Hampshire increased its stake in shares of Boston Scientific by 14.8% in the 4th quarter. Bank of New Hampshire now owns 2,565 shares of the medical equipment provider’s stock worth $229,000 after purchasing an additional 330 shares in the last quarter. Finally, Collective Family Office LLC bought a new stake in Boston Scientific during the fourth quarter valued at about $209,000. 89.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BSX shares. Evercore ISI increased their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $114.52.

About Boston Scientific

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.