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

Boston Scientific Co. (NYSE:BSX - Get Free Report) CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer now owns 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Boston Scientific Stock Up 0.2%

Shares of BSX stock traded up $0.24 during trading hours on Thursday, reaching $102.67. The company had a trading volume of 8,242,457 shares, compared to its average volume of 7,645,954. The business has a fifty day simple moving average of $100.44 and a 200-day simple moving average of $98.20. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a market cap of $151.90 billion, a price-to-earnings ratio of 82.14, a price-to-earnings-growth 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 - Get Free Report) last announced its quarterly earnings data 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 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company's revenue for the quarter was up 20.9% on a year-over-year basis. On average, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BSX shares. BTIG Research restated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Royal Bank of Canada boosted their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Finally, Evercore ISI lifted their price target 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-one investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of "Buy" and an average target price of $116.00.

Hedge Funds Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSX. Brighton Jones LLC grew its holdings in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after buying an additional 226 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Boston Scientific in the fourth quarter worth approximately $33,074,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Boston Scientific by 5.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 44,233 shares of the medical equipment provider's stock valued at $3,951,000 after purchasing an additional 2,348 shares during the last quarter. Tritonpoint Wealth LLC increased its holdings in shares of Boston Scientific by 10.1% in the fourth quarter. Tritonpoint Wealth LLC now owns 3,040 shares of the medical equipment provider's stock worth $271,000 after buying an additional 279 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in Boston Scientific by 5.0% in the fourth quarter. DAVENPORT & Co LLC now owns 11,829 shares of the medical equipment provider's stock valued at $1,057,000 after purchasing an additional 561 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

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.