Northeast Financial Consultants Inc Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Northeast Financial Consultants Inc decreased its position in Boston Scientific Co. (NYSE:BSX) by 15.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,535 shares of the medical equipment provider’s stock after selling 995 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Boston Scientific were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors acquired a new stake in Boston Scientific in the 1st quarter worth about $25,000. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Andra AP fonden purchased a new stake in Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific during the 1st quarter valued at about $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $83.35 on Monday. The company’s fifty day moving average price is $79.33 and its two-hundred day moving average price is $75.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm has a market capitalization of $122.28 billion, a P/E ratio of 70.04, a P/E/G ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.89.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS 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 firm 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 business posted $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, TD Cowen lifted their price objective on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $86.65.

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.