Traders Sell Shares of Boston Scientific Corporation (BSX) on Strength (BSX)
Investors sold shares of Boston Scientific Corporation (NYSE:BSX) on strength during trading on Wednesday. $11.41 million flowed into the stock on the tick-up and $53.22 million flowed out of the stock on the tick-down, for a money net flow of $41.81 million out of the stock. Of all stocks tracked, Boston Scientific Corporation had the 20th highest net out-flow for the day. Boston Scientific Corporation traded up $0.21 for the day and closed at $26.68
BSX has been the topic of several analyst reports. TheStreet raised shares of Boston Scientific Corporation from a “c+” rating to a “b” rating in a report on Tuesday, April 25th. Stifel Nicolaus upped their target price on shares of Boston Scientific Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price (up previously from $29.00) on shares of Boston Scientific Corporation in a report on Thursday, April 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $30.00 target price on shares of Boston Scientific Corporation in a report on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Boston Scientific Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $30.06.
The firm has a market cap of $36.61 billion, a P/E ratio of 47.73 and a beta of 1.09. The stock’s 50-day moving average price is $27.23 and its 200-day moving average price is $26.12.
Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
In related news, EVP Michael P. Phalen sold 15,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.25, for a total value of $422,375.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John Bradley Sorenson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total value of $208,323.00. Following the completion of the sale, the senior vice president now owns 21,680 shares in the company, valued at $571,701.60. The disclosure for this sale can be found here. Insiders sold 207,625 shares of company stock worth $5,686,383 over the last quarter. 0.74% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Boston Scientific Corporation by 2,181.6% in the first quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock valued at $2,381,169,000 after buying an additional 91,548,235 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Boston Scientific Corporation by 22,491.6% in the second 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 buying an additional 38,690,577 shares during the last quarter. FMR LLC boosted its stake in shares of Boston Scientific Corporation by 7.6% in the first quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock valued at $4,593,698,000 after buying an additional 13,105,596 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Boston Scientific Corporation by 405.3% in the second quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock valued at $294,921,000 after buying an additional 8,533,655 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Boston Scientific Corporation during the first quarter valued at approximately $149,859,000. Institutional investors and hedge funds own 91.62% of the company’s stock.
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About Boston Scientific Corporation
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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