Edward J. Ludwig Sells 9,818 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX - Get Free Report) Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Boston Scientific Price Performance

NYSE:BSX traded down $0.69 during trading hours on Monday, reaching $72.48. 9,463,878 shares of the company traded hands, compared to its average volume of 6,623,186. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The stock has a market cap of $106.34 billion, a P/E ratio of 60.91, a P/E/G ratio of 2.52 and a beta of 0.78. The firm's 50-day moving average is $67.96 and its 200-day moving average is $60.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter last year, the company earned $0.45 earnings per share. Equities research analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Boston Scientific

A number of large investors have recently bought and sold shares of BSX. Pinnacle Associates Ltd. increased its stake in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider's stock valued at $512,000 after acquiring an additional 148 shares during the period. BSW Wealth Partners lifted its stake in shares of Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider's stock valued at $428,000 after purchasing an additional 165 shares during the last quarter. Allstate Corp raised its position in shares of Boston Scientific by 2.9% in the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider's stock valued at $343,000 after purchasing an additional 165 shares during the period. First Affirmative Financial Network boosted its holdings in Boston Scientific by 4.3% during the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider's stock valued at $276,000 after acquiring an additional 166 shares during the period. Finally, Valley National Advisers Inc. grew its holdings in Boston Scientific by 2.3% in the 4th quarter. Valley National Advisers Inc. now owns 7,526 shares of the medical equipment provider's stock valued at $435,000 after buying an additional 170 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Boston Scientific from $72.00 to $78.00 and gave the stock an "outperform" rating in a research note on Thursday. Citigroup lifted their price objective on Boston Scientific from $79.00 to $85.00 and gave the company a "buy" rating in a report on Thursday. Mizuho increased their target price on Boston Scientific from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. Needham & Company LLC lifted their price target on Boston Scientific from $71.00 to $82.00 and gave the company a "buy" rating in a research note on Wednesday, April 24th. Finally, Barclays increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the stock an "overweight" rating in a research report on Friday. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of "Moderate Buy" and an average price target of $75.09.

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.