Boston Scientific (BSX) Hits New 1-Year High at $39.13
Boston Scientific Co. (NYSE:BSX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $39.13 and last traded at $38.91, with a volume of 256291 shares traded. The stock had previously closed at $38.83.
A number of research firms recently issued reports on BSX. Morgan Stanley upped their price target on shares of Boston Scientific from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Piper Jaffray Companies upped their price target on shares of Boston Scientific to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $34.00 price target on shares of Boston Scientific in a research note on Thursday, July 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $37.00 price target on shares of Boston Scientific in a research note on Thursday, July 26th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating on shares of Boston Scientific in a research note on Friday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. Boston Scientific has an average rating of “Buy” and an average price target of $36.43.
The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $53.39 billion, a P/E ratio of 30.45, a PEG ratio of 2.68 and a beta of 0.63.
In other news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $32.42, for a total value of $162,100.00. Following the sale, the executive vice president now directly owns 29,201 shares in the company, valued at approximately $946,696.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey B. Mirviss sold 33,512 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $34.00, for a total transaction of $1,139,408.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 212,680 shares of company stock worth $7,619,335. 0.73% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in BSX. Royal London Asset Management Ltd. purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $18,832,000. WCM Investment Management CA raised its position in shares of Boston Scientific by 19.6% in the 2nd quarter. WCM Investment Management CA now owns 3,367,217 shares of the medical equipment provider’s stock valued at $110,108,000 after purchasing an additional 551,403 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $715,000. Public Employees Retirement System of Ohio raised its position in shares of Boston Scientific by 2.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 965,855 shares of the medical equipment provider’s stock valued at $31,583,000 after purchasing an additional 19,383 shares during the last quarter. Finally, WealthPLAN Partners LLC purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $208,000. Institutional investors and hedge funds own 90.89% of the company’s stock.
About Boston Scientific (NYSE:BSX)
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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