Prudent Man Advisors LLC Sells 3,328 Shares of Boston Scientific Co. (NYSE:BSX)

Prudent Man Advisors LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 23.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,963 shares of the medical equipment provider’s stock after selling 3,328 shares during the period. Prudent Man Advisors LLC’s holdings in Boston Scientific were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. BDF Gestion acquired a new position in Boston Scientific during the 2nd quarter worth $3,570,000. LRI Investments LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth about $139,000. Cetera Advisor Networks LLC boosted its stake in 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 valued at $13,796,000 after purchasing an additional 21,252 shares during the period. Brookstone Capital Management boosted its stake in Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, HWG Holdings LP acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $482,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSX. Canaccord Genuity Group increased their price objective on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Sanford C. Bernstein increased their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Thursday, October 31st. BTIG Research upped their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Truist Financial lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

Shares of BSX stock opened at $86.99 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $128.21 billion, a price-to-earnings ratio of 71.89, a PEG ratio of 2.56 and a beta of 0.79. The firm’s 50 day moving average is $85.26 and its 200-day moving average is $79.59. Boston Scientific Co. has a 1 year low of $53.56 and a 1 year high of $89.30.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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 return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s 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 sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by corporate insiders.

About Boston Scientific

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.