Heritage Investors Management Corp Decreases Position in Boston Scientific Co. (NYSE:BSX)

Heritage Investors Management Corp cut its stake in Boston Scientific Co. (NYSE:BSX) by 3.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 196,864 shares of the medical equipment provider’s stock after selling 7,684 shares during the quarter. Heritage Investors Management Corp’s holdings in Boston Scientific were worth $16,497,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Boston Scientific by 225.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after buying an additional 73,219 shares in the last quarter. BDF Gestion acquired a new stake in Boston Scientific in the 2nd quarter valued at about $3,570,000. LRI Investments LLC acquired a new stake in shares of Boston Scientific during the 1st quarter worth approximately $139,000. Cetera Advisor Networks LLC increased its holdings in shares of Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after buying an additional 21,252 shares during the last quarter. Finally, Brookstone Capital Management increased its holdings in shares of Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after buying an additional 55,645 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSX. Truist Financial raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Down 0.2 %

Shares of NYSE:BSX traded down $0.18 during trading on Tuesday, reaching $84.54. The stock had a trading volume of 226,219 shares, compared to its average volume of 6,077,154. The business has a fifty day moving average price of $84.10 and a 200-day moving average price of $78.55. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.50 billion, a P/E ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $50.84 and a fifty-two week high of $88.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.