Boston Scientific Co. (NYSE:BSX) Stock Position Decreased by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its position in Boston Scientific Co. (NYSE:BSX) by 18.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 121,753 shares of the medical equipment provider’s stock after selling 27,758 shares during the quarter. Pacer Advisors Inc.’s holdings in Boston Scientific were worth $9,376,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth $8,038,000. TD Asset Management Inc raised its holdings in Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after buying an additional 155,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Boston Scientific by 225.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares during the last quarter. BDF Gestion bought a new stake in shares of Boston Scientific during the 2nd quarter worth about $3,570,000. Finally, Precision Wealth Strategies LLC acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $956,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BSX shares. JPMorgan Chase & Co. upped their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. BTIG Research lifted their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday. TD Cowen lifted their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley increased their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.65.

Boston Scientific Stock Up 0.1 %

NYSE BSX opened at $84.00 on Tuesday. Boston Scientific Co. has a 1-year low of $48.35 and a 1-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 stock’s 50 day moving average is $78.84 and its two-hundred day moving average is $74.84. The company has a market capitalization of $123.24 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 2.75 and a beta of 0.79.

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

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by insiders.

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.