Insider Selling: Boston Scientific Corporation (NYSE:BSX) Director Sells 2,901 Shares of Stock

Key Points

• Yoshiaki Fujimori, a director at Boston Scientific, sold 2,901 shares of the company's stock for approximately $310,378, reducing his ownership by 58.23%.
• The company's stock showed a slight increase of 0.2% during trading, reaching around $106.69, with a market capitalization of $157.84 billion.
• Boston Scientific recently reported a 22.8% year-over-year revenue increase, totaling $5.06 billion for the quarter, surpassing analyst expectations.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the sale, the director owned 2,081 shares of the company's stock, valued at approximately $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Boston Scientific Trading Up 0.5%

Shares of NYSE BSX traded up $0.48 during midday trading on Friday, reaching $105.40. 6,309,550 shares of the stock were exchanged, compared to its average volume of 7,708,146. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $108.94. The stock has a 50 day moving average price of $103.61 and a 200-day moving average price of $101.80. The company has a market capitalization of $155.93 billion, a P/E ratio of 62.74, a P/E/G ratio of 2.57 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Equities research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSX. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Citigroup reiterated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Truist Financial lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $117.50.

Institutional Investors Weigh In On Boston Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after acquiring an additional 1,697,945 shares during the period. Geode Capital Management LLC increased its position in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors boosted its holdings in Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in Boston Scientific by 2.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after buying an additional 554,388 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Boston Scientific by 5.3% during the 1st quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock valued at $1,677,124,000 after purchasing an additional 834,274 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

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.