Boston Scientific (NYSE:BSX) CEO Michael Mahoney Sells 160,901 Shares

Boston Scientific Corporation (NYSE:BSX) CEO Michael Mahoney sold 160,901 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $93.49, for a total value of $15,042,634.49. Following the sale, the chief executive officer owned 1,411,735 shares in the company, valued at $131,983,105.15. The trade was a 10.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Boston Scientific Price Performance

Shares of BSX traded down $0.31 during midday trading on Tuesday, reaching $91.56. The stock had a trading volume of 20,355,922 shares, compared to its average volume of 12,832,511. The company has a market capitalization of $135.73 billion, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 1.66 and a beta of 0.67. The company has a current ratio of 1.51, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $85.98 and a 12-month high of $109.50. The company’s 50-day moving average is $95.08 and its 200 day moving average is $99.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BSX. Vanguard Group Inc. lifted its position in Boston Scientific by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after acquiring an additional 1,436,550 shares during the period. State Street Corp boosted its position in shares of Boston Scientific by 1.1% in the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after purchasing an additional 713,379 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Boston Scientific by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock worth $3,466,320,000 after buying an additional 622,602 shares during the last quarter. Norges Bank bought a new position in Boston Scientific during the 2nd quarter valued at approximately $2,089,937,000. Finally, Invesco Ltd. raised its stake in Boston Scientific by 0.7% during the third quarter. Invesco Ltd. now owns 16,963,344 shares of the medical equipment provider’s stock valued at $1,656,131,000 after buying an additional 111,826 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BSX shares. Truist Financial decreased their target price on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. National Bankshares set a $115.00 target price on Boston Scientific in a report on Monday. Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a research report on Thursday, January 15th. TD Cowen reissued a “buy” rating on shares of Boston Scientific in a research note on Monday. Finally, Canaccord Genuity Group decreased their target price on shares of Boston Scientific from $132.00 to $131.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.26.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.