Shares of Boston Scientific Corporation (NYSE:BSX) Sees Large Outflow of Money

Boston Scientific Corporation (NYSE:BSX) : The total negative money flow of $9.43 million on Wednesday indicates selling on strength. The inflow of money on upticks was $37.21 million, compared to $46.64 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.8. The negative money flow of $9.66 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $14.06 million in a block trade.The transaction value of block trade on downtick was $23.72 million. The uptick to downtick ratio was 0.59. The price action in the Boston Scientific Corporation (NYSE:BSX) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $23.03 with a gain of $0.68 , a change of 3.04% over the previous days close. The stock registered 2.95% for the week.


In an insider trading activity, The Securities and Exchange Commission has divulged that Pratt Timothy A., officer (EVP, GC & Chief Admin Officer) of Boston Scientific Corp, had unloaded 24,229 shares at an average price of $22.66 in a transaction dated on June 1, 2016. The total value of the transaction was worth $549,029. Currently the company Insiders own 1.31% of Boston Scientific Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -17.7% . Institutional Investors own 93.32% of Boston Scientific Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -22.27%.

The company shares have rallied 25.56% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $23.35 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $22.59 and the 200 Day Moving Average price is recorded at $19.49. Boston Scientific Corporation (NYSE:BSX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $22.55 and $22.55 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.03, notching a gain of 3.04% for the day. The total traded volume was 12,689,583 . The stock had closed at $22.35 on the previous day.

Boston Scientific Corporation develops, manufactures and markets medical devices. The Company offers its products by seven core businesses: Interventional Cardiology, which includes Drug-Eluting Coronary Stent Systems, Intravascular Imaging devised and Coronary Technology products, such as guide wires, guide catheters, and balloon catheters, among others; Peripheral Interventions (PI), which include stents, balloon catheters, wires, peripheral embolization devices and vena cava filters; Cardiac Rhythm Management (CRM), which include implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities; Electrophysiology (EP), which include steerable RF ablation catheters, intracardiac ultrasound catheters, diagnostic catheters, delivery sheaths, and other accessories; Endoscopy, which includes Spyglass System, WallFlex Colonic Stents, Resolution Clip, and Expect Aspiration Needle, among others; Urology and Womens Health, and Neuromodulation.

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