Tranquility Partners LLC trimmed its position in Boston Scientific Co. (NYSE:BSX – Free Report) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,049 shares of the medical equipment provider’s stock after selling 243 shares during the quarter. Tranquility Partners LLC’s holdings in Boston Scientific were worth $423,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific during the 2nd quarter worth $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific in the 3rd quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in Boston Scientific during the 3rd quarter valued at approximately $30,000. Finally, Andra AP fonden purchased a new position in shares of Boston Scientific in the second quarter worth $29,000. 89.07% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently issued reports on BSX. Royal Bank of Canada upped their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Morgan Stanley raised their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four 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 company’s stock. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.
Boston Scientific Trading Up 4.0 %
BSX opened at $90.45 on Tuesday. The stock has a market capitalization of $133.31 billion, a PE ratio of 74.75, a P/E/G ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.08. The business’s 50 day moving average price is $85.42 and its 200 day moving average price is $79.72.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, equities research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.
Insider Transactions at Boston Scientific
In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 over the last ninety days. Company insiders own 0.50% of the company’s stock.
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.
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