Insider Selling: Boston Scientific Co. (NYSE:BSX) CFO Sells $7,086,124.92 in Stock

Boston Scientific Co. (NYSE:BSX) CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $104.44 on Friday. The business’s 50-day simple moving average is $97.98 and its 200-day simple moving average is $89.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The firm has a market cap of $154.12 billion, a price-to-earnings ratio of 83.55, a P/E/G ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific in the fourth quarter worth about $25,000. Colonial Trust Co SC boosted its stake in 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 purchasing an additional 260 shares during the period. TFC Financial Management Inc. grew its holdings 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 buying an additional 210 shares during the last quarter. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the 4th quarter worth approximately $26,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BSX. Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Truist Financial raised their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price target on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus upped their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.39.

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.