Simplicity Wealth LLC Lowers Position in Boston Scientific Co. (NYSE:BSX)

Simplicity Wealth LLC decreased its stake in Boston Scientific Co. (NYSE:BSX) by 97.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,138 shares of the medical equipment provider’s stock after selling 285,392 shares during the period. Simplicity Wealth LLC’s holdings in Boston Scientific were worth $514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.6% in 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 purchasing an additional 1,988,082 shares during the period. Capital World Investors raised its position in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares during the last quarter. Legal & General Group Plc raised its position in Boston Scientific by 2.7% during the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after acquiring an additional 360,793 shares during the last quarter. Ameriprise Financial Inc. raised its position in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Boston Scientific by 15.0% during the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after acquiring an additional 1,027,543 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $87.10 on Monday. The firm has a fifty day moving average of $81.21 and a 200-day moving average of $76.55. The firm has a market capitalization of $127.78 billion, a P/E ratio of 73.19, a PEG ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $87.28. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results 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. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. As a group, analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Buying and Selling 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 $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 $3,061,135.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last ninety days. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Raymond James lifted their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. 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 research report on Monday, July 15th. Citigroup lifted their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Needham & Company LLC boosted their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada upped their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

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.