Boston Scientific Co. (NYSE:BSX) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,303 shares of the medical equipment provider’s stock after selling 8,450 shares during the quarter. Pacer Advisors Inc.’s holdings in Boston Scientific were worth $9,495,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. BDF Gestion purchased a new position in shares of Boston Scientific during the second quarter worth approximately $3,570,000. LRI Investments LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at $139,000. Cetera Advisor Networks LLC raised its position in Boston Scientific by 11.8% in 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 last quarter. Finally, 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 worth $5,414,000 after purchasing an additional 55,645 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.6 %

Shares of BSX stock opened at $90.00 on Friday. The stock has a market cap of $132.64 billion, a P/E ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The business has a fifty day simple moving average of $85.99 and a 200-day simple moving average of $80.16.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, TD Cowen lifted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,147 shares of company stock worth $26,643,598 in the last ninety days. 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.