Holocene Advisors LP Sells 42,798 Shares of Boston Scientific Co. (NYSE:BSX)

Holocene Advisors LP cut its stake in Boston Scientific Co. (NYSE:BSX) by 1.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,997,632 shares of the medical equipment provider’s stock after selling 42,798 shares during the period. Boston Scientific makes up about 1.4% of Holocene Advisors LP’s holdings, making the stock its 6th largest holding. Holocene Advisors LP’s holdings in Boston Scientific were worth $335,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares during the last quarter. BDF Gestion purchased a new position in Boston Scientific in the second quarter worth approximately $3,570,000. Brookstone Capital Management increased its stake in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after acquiring an additional 55,645 shares during the last quarter. HWG Holdings LP purchased a new stake in Boston Scientific in the second quarter valued at $482,000. Finally, PGGM Investments raised its position in Boston Scientific by 9.6% in the second quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock valued at $9,071,000 after purchasing an additional 10,366 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other 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 value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Bank of America lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Raymond James raised their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Sanford C. Bernstein raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $90.66 on Monday. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $133.62 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 2.67 and a beta of 0.79. The firm’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $80.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during 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 quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Boston Scientific 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.