Insider Selling: Boston Scientific Corporation (NYSE:BSX) EVP Sells 17,313 Shares of Stock

Key Points

• Arthur C. Butcher, EVP of Boston Scientific, sold 17,313 shares for approximately $1.81 million, reducing his ownership by 42.32%.
• Boston Scientific reported $5.06 billion in revenue for the last quarter, exceeding analyst expectations and showing a 22.8% year-over-year increase in revenue.
• Analysts maintain a consensus "Buy" rating for the stock, with price targets ranging from $112 to $133.

Boston Scientific Corporation (NYSE:BSX - Get Free Report) EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president owned 23,600 shares of the company's stock, valued at $2,469,268. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $1.33 during midday trading on Monday, hitting $106.74. The company's stock had a trading volume of 4,623,589 shares, compared to its average volume of 7,687,397. The stock has a fifty day moving average price of $103.63 and a 200 day moving average price of $101.93. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $108.94. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $157.92 billion, a price-to-earnings ratio of 63.54, a P/E/G ratio of 2.54 and a beta of 0.66.

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

Hedge Funds Weigh In On Boston Scientific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank Pictet & Cie Europe AG boosted its stake in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after purchasing an additional 6,264 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at $8,234,000. Blue Trust Inc. boosted its stake in shares of Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock valued at $504,000 after purchasing an additional 575 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock valued at $24,126,000 after purchasing an additional 141,398 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BSX shares. 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 report on Thursday, July 24th. Barclays boosted their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. BTIG Research restated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Evercore ISI boosted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $117.50.

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.

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