John Bradley Sorenson Sells 17,587 Shares of Boston Scientific Co. (NYSE:BSX) Stock

Boston Scientific Co. (NYSE:BSX) EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at $3,620,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

John Bradley Sorenson also recently made the following trade(s):

• On Monday, April 1st, John Bradley Sorenson sold 16,351 shares of Boston Scientific stock. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30.

Boston Scientific Stock Performance

BSX opened at $72.86 on Friday. The firm has a market capitalization of $109.29 billion, a P/E ratio of 61.23, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The stock’s 50 day moving average price is $68.30 and its two-hundred day moving average price is $61.11. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same quarter last year, the firm posted $0.45 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSX. RiverPark Advisors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $31,000. YHB Investment Advisors Inc. bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $28,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the topic of several recent analyst reports. Evercore ISI upped their price target on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Robert W. Baird boosted their target price on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Argus upped their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. 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 stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $75.09.

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.