Chicago Capital LLC Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Chicago Capital LLC lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 19.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,652 shares of the medical equipment provider’s stock after selling 3,381 shares during the period. Chicago Capital LLC’s holdings in Boston Scientific were worth $1,144,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in 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 valued at $7,237,000 after acquiring an additional 73,219 shares during the period. BDF Gestion purchased a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $3,570,000. Tlwm acquired a new position in shares of Boston Scientific in the 1st quarter valued at $927,000. LRI Investments LLC purchased a new stake in Boston Scientific during the first quarter worth $139,000. Finally, Cetera Advisor Networks LLC increased its holdings in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Truist Financial increased their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC cut Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $89.10.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $88.07 on Monday. The business’s fifty day simple moving average is $82.49 and its 200-day simple moving average is $77.22. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $129.21 billion, a PE ratio of 74.01, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $49.15 and a 52 week high of $88.71.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The company 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%. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. Equities analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction on Monday, October 7th. The stock was 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 directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,253 shares of company stock worth $26,714,298. Insiders own 0.50% of the company’s stock.

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.