Boston Scientific Corporation (NYSE:BSX) EVP Joseph Michael Fitzgerald Sells 50,000 Shares

Boston Scientific Corporation (NYSE:BSX) EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $19,077,243.74. The trade was a 21.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Joseph Michael Fitzgerald also recently made the following trade(s):

• On Wednesday, June 4th, Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $103.57 on Thursday. The company has a 50-day simple moving average of $103.31 and a 200-day simple moving average of $99.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The company has a market cap of $153.23 billion, a PE ratio of 75.60, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the company earned $0.56 EPS. Boston Scientific’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on BSX shares. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Citigroup reissued a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Truist Financial upped their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Evercore ISI boosted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $116.09.

Hedge Funds Weigh In On Boston Scientific

Several institutional investors have recently added to or reduced their stakes in BSX. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $26,000. 1248 Management LLC acquired a new position in Boston Scientific during the first quarter worth approximately $26,000. Finally, Y.D. More Investments Ltd purchased a new position in Boston Scientific during the first quarter worth approximately $27,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

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.