Boston Scientific Co. (NYSE:BSX) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC cut its position in Boston Scientific Co. (NYSE:BSX) by 4.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,397 shares of the medical equipment provider’s stock after selling 165 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Boston Scientific were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its position in shares of Boston Scientific by 12.8% during the first quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 1,413 shares during the period. &PARTNERS bought a new stake in Boston Scientific during the 1st quarter valued at $344,000. International Assets Investment Management LLC boosted its position in Boston Scientific by 5.9% during the 1st quarter. International Assets Investment Management LLC now owns 22,457 shares of the medical equipment provider’s stock worth $1,538,000 after acquiring an additional 1,248 shares during the period. Ballentine Partners LLC grew its stake in shares of Boston Scientific by 8.0% in the first quarter. Ballentine Partners LLC now owns 27,061 shares of the medical equipment provider’s stock worth $1,853,000 after purchasing an additional 1,993 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific during the first quarter valued at $31,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSX has been the subject of a number of recent analyst reports. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Citigroup lifted their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.10.

Boston Scientific Stock Up 1.9 %

BSX stock opened at $88.07 on Friday. The company’s 50 day simple moving average is $82.49 and its 200-day simple moving average is $77.16. Boston Scientific Co. has a 52-week low of $49.15 and a 52-week high of $88.71. 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 $129.21 billion, a P/E ratio of 74.01, a P/E/G ratio of 2.87 and a beta of 0.80.

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

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is currently owned by company 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.