Investors #Sell Shares of #Boston Scientific (BSX) on #Strength on #Insider Selling

Traders sold shares of Boston Scientific Corporation (NYSE:BSX) on strength during trading hours on Thursday after an insider sold shares in the company. $48.46 million flowed into the stock on the tick-up and $165.46 million flowed out of the stock on the tick-down, for a money net flow of $117.00 million out of the stock. Of all companies tracked, Boston Scientific had the 0th highest net out-flow for the day. Boston Scientific traded up $0.33 for the day and closed at $26.28Specifically, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific stock in a transaction on Friday, September 29th. The stock was sold at an average price of $28.72, for a total value of $445,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission. Also, insider Valley Gold Master Fund L. Sun bought 408,006 shares of Boston Scientific stock in a transaction on Tuesday, November 28th. The stock was acquired at an average cost of $0.45 per share, with a total value of $183,602.70. In the last ninety days, insiders have sold 414,698 shares of company stock valued at $12,013,153. 0.74% of the stock is owned by corporate insiders.

Several analysts recently commented on BSX shares. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Boston Scientific in a report on Wednesday. Cowen set a $31.00 price objective on Boston Scientific and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity cut their price objective on Boston Scientific from $36.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Boston Scientific in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.61.

The firm has a market cap of $35,910.00, a PE ratio of 21.63, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.50 and a current ratio of 0.72.

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

Several large investors have recently bought and sold shares of BSX. Swiss National Bank increased its stake in Boston Scientific by 2.9% during the second quarter. Swiss National Bank now owns 5,584,930 shares of the medical equipment provider’s stock worth $154,814,000 after acquiring an additional 156,800 shares during the last quarter. Wells Fargo & Company MN increased its stake in Boston Scientific by 10.5% during the second quarter. Wells Fargo & Company MN now owns 9,157,768 shares of the medical equipment provider’s stock worth $253,854,000 after acquiring an additional 867,983 shares during the last quarter. Sit Investment Associates Inc. increased its stake in Boston Scientific by 37.8% during the third quarter. Sit Investment Associates Inc. now owns 141,710 shares of the medical equipment provider’s stock worth $4,134,000 after acquiring an additional 38,855 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in Boston Scientific by 35,016.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,042,464 shares of the medical equipment provider’s stock worth $84,337,000 after acquiring an additional 3,033,800 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Boston Scientific by 71.7% during the third quarter. Greenwood Capital Associates LLC now owns 91,579 shares of the medical equipment provider’s stock worth $2,671,000 after acquiring an additional 38,249 shares during the last quarter. Institutional investors own 90.55% of the company’s stock.

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