Xponance Inc. Has $15.73 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Xponance Inc. cut its position in Boston Scientific Co. (NYSE:BSX) by 2.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 204,211 shares of the medical equipment provider’s stock after selling 4,869 shares during the quarter. Xponance Inc.’s holdings in Boston Scientific were worth $15,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Precision Wealth Strategies LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $956,000. Aveo Capital Partners LLC boosted its position in Boston Scientific by 1.3% in the fourth quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock valued at $742,000 after buying an additional 171 shares in the last quarter. TrinityPoint Wealth LLC boosted its position in Boston Scientific by 5.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock valued at $725,000 after buying an additional 697 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Boston Scientific by 14.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,237 shares of the medical equipment provider’s stock worth $361,000 after purchasing an additional 767 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Boston Scientific by 6.0% during the fourth quarter. D.A. Davidson & CO. now owns 9,380 shares of the medical equipment provider’s stock worth $542,000 after purchasing an additional 529 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were 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 owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research reports. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Evercore ISI upped their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Needham & Company LLC upped their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Stock Up 0.3 %

Shares of NYSE:BSX opened at $83.92 on Monday. The company has a 50 day moving average price of $78.72 and a two-hundred day moving average price of $74.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89. The company has a market capitalization of $123.12 billion, a PE ratio of 70.52, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Boston Scientific Co. will post 2.4 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.