Traders Buy Shares of Boston Scientific (BSX) on Weakness

Investors purchased shares of Boston Scientific Corporation (NYSE:BSX) on weakness during trading hours on Thursday. $66.35 million flowed into the stock on the tick-up and $41.99 million flowed out of the stock on the tick-down, for a money net flow of $24.36 million into the stock. Of all equities tracked, Boston Scientific had the 17th highest net in-flow for the day. Boston Scientific traded down ($0.20) for the day and closed at $25.04

Several research analysts recently weighed in on the stock. TheStreet cut shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Thursday. Needham & Company LLC upgraded shares of Boston Scientific from a “buy” rating to a “strong-buy” rating and upped their price objective for the stock from $25.04 to $32.00 in a research report on Friday. Oppenheimer restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 29th. BMO Capital Markets restated a “buy” rating and issued a $31.00 price objective on shares of Boston Scientific in a research report on Wednesday, November 29th. Finally, Zacks Investment Research cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.97.

The company has a market cap of $34,384.83, a P/E ratio of 20.52, a PEG ratio of 1.93 and a beta of 0.96. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

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

In other Boston Scientific news, EVP Michael P. Phalen sold 15,500 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $28.72, for a total value of $445,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Pratt sold 11,061 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $29.24, for a total value of $323,423.64. Following the sale, the executive vice president now directly owns 174,681 shares of the company’s stock, valued at approximately $5,107,672.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,698 shares of company stock valued at $12,273,553. 0.74% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Comerica Securities Inc. boosted its stake in shares of Boston Scientific by 0.9% during the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock valued at $318,000 after purchasing an additional 99 shares during the period. ETRADE Capital Management LLC boosted its stake in shares of Boston Scientific by 1.7% during the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock valued at $279,000 after purchasing an additional 171 shares during the period. Krilogy Financial LLC boosted its stake in shares of Boston Scientific by 5.9% during the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock valued at $213,000 after purchasing an additional 430 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of Boston Scientific by 3.9% during the second quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock valued at $382,000 after purchasing an additional 523 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Boston Scientific by 1.1% during the second quarter. Greenwood Capital Associates LLC now owns 53,330 shares of the medical equipment provider’s stock valued at $1,478,000 after purchasing an additional 564 shares during the period. 90.57% of the stock is owned by hedge funds and other institutional investors.

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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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