Boston Scientific Corporation (NYSE:BSX) Director Sells $424,120.00 in Stock

Key Points

• Director Edward J. Ludwig sold 4,000 shares of Boston Scientific at an average price of $106.03, reducing his ownership by 17.79%.
• Boston Scientific's latest quarterly earnings reported an EPS of $0.75, exceeding analyst expectations by 3 cents, with revenues rising 22.8% year-over-year.
• The stock is currently rated as a "Buy"** by most analysts, with a price target increase from $130.00 to $135.00 by UBS Group.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the transaction, the director directly owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. The trade was a 17.79% 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 Stock Performance

Shares of Boston Scientific stock traded down $0.08 during trading hours on Wednesday, hitting $106.39. 2,530,503 shares of the company's stock traded hands, compared to its average volume of 7,690,638. The stock has a market capitalization of $157.40 billion, a price-to-earnings ratio of 63.36, a PEG ratio of 2.55 and a beta of 0.68. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The company has a fifty day simple moving average of $103.56 and a 200-day simple moving average of $101.69.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. Equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Citigroup reiterated a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Raymond James Financial boosted their price objective on Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 24th. Finally, Barclays upped their price target on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $117.50.

Institutional Investors Weigh In On Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. Colonial Trust Co SC raised its stake 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 valued at $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV bought a new stake in Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $26,000. 1248 Management LLC purchased a new position in Boston Scientific during the 1st quarter valued at about $26,000. Finally, Y.D. More Investments Ltd purchased a new position in Boston Scientific during the 1st quarter valued at about $27,000. 89.07% of the stock is currently owned by 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.