Boston Scientific Co. (NYSE:BSX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its position in Boston Scientific Co. (NYSE:BSX) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,306 shares of the medical equipment provider’s stock after selling 5,029 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Boston Scientific were worth $5,387,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. OneDigital Investment Advisors LLC increased its position in Boston Scientific by 3.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 10,177 shares of the medical equipment provider’s stock valued at $853,000 after buying an additional 311 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Boston Scientific by 7.9% during the third quarter. Empowered Funds LLC now owns 23,413 shares of the medical equipment provider’s stock valued at $1,962,000 after acquiring an additional 1,715 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Boston Scientific by 9.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 366,807 shares of the medical equipment provider’s stock valued at $30,740,000 after purchasing an additional 32,844 shares during the last quarter. Quest Partners LLC boosted its stake in Boston Scientific by 10.3% in the 3rd quarter. Quest Partners LLC now owns 17,786 shares of the medical equipment provider’s stock worth $1,490,000 after purchasing an additional 1,668 shares in the last quarter. Finally, GLOBALT Investments LLC GA purchased a new stake in Boston Scientific during the 3rd quarter worth approximately $718,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Boston Scientific stock opened at $99.17 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company’s fifty day moving average price is $101.35 and its 200 day moving average price is $92.09. The stock has a market capitalization of $146.36 billion, a P/E ratio of 79.34, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Piper Sandler raised their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Canaccord Genuity Group lifted their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insider Activity

In related news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

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.