Edward J. Ludwig Sells 12,000 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now owns 24,398 shares of the company’s stock, valued at approximately $2,573,501.04. The trade was a 32.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Boston Scientific Stock Up 0.4 %

Shares of NYSE:BSX opened at $106.16 on Friday. The firm’s 50-day moving average is $95.80 and its two-hundred day moving average is $87.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $65.00 and a 1 year high of $107.17. The firm has a market capitalization of $156.47 billion, a PE ratio of 84.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Analysts predict that Boston Scientific Co. will post 2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada lifted their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $107.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TFC Financial Management Inc. raised its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the third quarter worth approximately $28,000. Dunhill Financial LLC increased its holdings in shares of Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Global Wealth Strategies & Associates raised its position in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares in the last quarter. Finally, West Oak Capital LLC purchased a new stake in Boston Scientific during the fourth quarter worth approximately $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

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.