Boston Scientific Co. (NYSE:BSX) CEO Michael F. Mahoney Sells 164,443 Shares

Boston Scientific Co. (NYSE:BSX - Get Free Report) CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boston Scientific Trading Down 1.4 %

NYSE BSX traded down $1.48 on Thursday, hitting $103.32. 5,274,499 shares of the company were exchanged, compared to its average volume of 7,791,567. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a market capitalization of $152.86 billion, a P/E ratio of 82.66, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company's 50 day moving average price is $98.73 and its 200-day moving average price is $95.72.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm's quarterly revenue was up 20.9% on a year-over-year basis. Analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Boston Scientific

Large investors have recently added to or reduced their stakes in the stock. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% in the fourth 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 during the last quarter. Colonial Trust Co SC increased its position in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific during the fourth quarter worth approximately $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $26,000. Finally, West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth $29,000. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on BSX shares. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley increased their target price on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. BTIG Research reiterated a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus 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.