Boston Scientific Corporation (BSX) EVP Sells $399,833.75 in Stock

Boston Scientific Corporation (NYSE:BSX) EVP Michael P. Phalen sold 15,835 shares of the stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $25.25, for a total transaction of $399,833.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Michael P. Phalen also recently made the following trade(s):

  • On Wednesday, November 29th, Michael P. Phalen sold 15,500 shares of Boston Scientific stock. The shares were sold at an average price of $26.66, for a total transaction of $413,230.00.
  • On Monday, October 30th, Michael P. Phalen sold 15,500 shares of Boston Scientific stock. The shares were sold at an average price of $28.42, for a total transaction of $440,510.00.

Shares of Boston Scientific Corporation (NYSE BSX) opened at $25.97 on Friday. The stock has a market cap of $34,769.32, a P/E ratio of 42.57, a PEG ratio of 1.77 and a beta of 0.96. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58. Boston Scientific Corporation has a 1-year low of $21.95 and a 1-year high of $29.93.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. research analysts forecast that Boston Scientific Corporation will post 1.25 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Boston Scientific by 1.6% during the 2nd quarter. Capital World Investors now owns 101,914,290 shares of the medical equipment provider’s stock worth $2,825,064,000 after buying an additional 1,611,442 shares during the last quarter. BlackRock Inc. increased its holdings in Boston Scientific by 4.6% in the 2nd quarter. BlackRock Inc. now owns 100,184,511 shares of the medical equipment provider’s stock valued at $2,777,113,000 after purchasing an additional 4,439,966 shares during the last quarter. Vanguard Group Inc. increased its holdings in Boston Scientific by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 93,657,300 shares of the medical equipment provider’s stock valued at $2,596,181,000 after purchasing an additional 2,522,556 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Boston Scientific by 22,491.6% in the 2nd quarter. Janus Henderson Group PLC now owns 38,862,599 shares of the medical equipment provider’s stock valued at $1,077,270,000 after purchasing an additional 38,690,577 shares during the last quarter. Finally, Winslow Capital Management LLC increased its holdings in Boston Scientific by 21.9% in the 2nd quarter. Winslow Capital Management LLC now owns 11,212,783 shares of the medical equipment provider’s stock valued at $310,818,000 after purchasing an additional 2,011,640 shares during the last quarter. Institutional investors and hedge funds own 90.36% of the company’s stock.

A number of research firms have commented on BSX. Royal Bank of Canada upgraded shares of Boston Scientific from an “outperform” rating to a “top pick” rating in a report on Friday. Oppenheimer reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 29th. BMO Capital Markets reiterated a “buy” rating and issued a $31.00 price objective on shares of Boston Scientific in a report on Wednesday, November 29th. Needham & Company LLC upgraded shares of Boston Scientific from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $25.04 to $32.00 in a report on Friday, December 8th. Finally, Canaccord Genuity cut their price objective on shares of Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.94.

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Boston Scientific Company Profile

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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