Boston Scientific Co. (NYSE:BSX) Position Lessened by Wealth Alliance

Wealth Alliance reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,915 shares of the medical equipment provider’s stock after selling 521 shares during the period. Wealth Alliance’s holdings in Boston Scientific were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Putnam Investments LLC increased its holdings in shares of Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the period. Capital World Investors grew its position in Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after purchasing an additional 6,617,360 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $182,897,000. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of Boston Scientific by 11,484.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock worth $98,593,000 after buying an additional 1,690,746 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $83.71 on Friday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $78.59 and a 200 day simple moving average of $74.51. The firm has a market capitalization of $122.81 billion, a price-to-earnings ratio of 70.34, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Evercore ISI lifted their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, TD Cowen raised their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

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.