Prospera Financial Services Inc Sells 329 Shares of Boston Scientific Co. (NYSE:BSX)

Prospera Financial Services Inc lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 4.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,781 shares of the medical equipment provider’s stock after selling 329 shares during the period. Prospera Financial Services Inc’s holdings in Boston Scientific were worth $568,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BSX. Marshall Wace LLP boosted its stake in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. Swedbank AB bought a new position in shares of Boston Scientific in the 1st quarter valued at about $100,113,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Boston Scientific in the 1st quarter valued at about $88,825,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $90.00 on Friday. The company has a market cap of $132.64 billion, a price-to-earnings ratio of 74.38, a PEG ratio of 2.69 and a beta of 0.79. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company’s fifty day simple moving average is $85.99 and its 200 day simple moving average is $80.16. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. On average, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific 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 of the company’s stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 314,147 shares of company stock worth $26,643,598. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BSX shares. Barclays raised their target price 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. BTIG Research lifted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Truist Financial lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. TD Cowen lifted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.