Boston Scientific Co. (NYSE:BSX) Shares Sold by MAI Capital Management

MAI Capital Management lowered its position in Boston Scientific Co. (NYSE:BSX) by 10.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,200 shares of the medical equipment provider’s stock after selling 20,753 shares during the period. MAI Capital Management’s holdings in Boston Scientific were worth $15,520,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BSX. CRA Financial Services LLC increased its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares during the last quarter. Adero Partners LLC lifted its position in shares of Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 127 shares in the last quarter. Ashton Thomas Securities LLC boosted its stake in shares of Boston Scientific by 1.3% in the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after acquiring an additional 129 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays boosted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Four research 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. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Price Performance

BSX opened at $90.45 on Tuesday. The firm has a market cap of $133.31 billion, a price-to-earnings ratio of 74.75, a PEG ratio of 2.56 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $85.42 and its 200 day moving average price is $79.72. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.08.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred 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 sale, 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 15.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 over the last 90 days. Corporate 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.