Paloma Partners Management Co Sells 5,034 Shares of Boston Scientific Co. (NYSE:BSX)

Paloma Partners Management Co lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 23.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,273 shares of the medical equipment provider’s stock after selling 5,034 shares during the period. Paloma Partners Management Co’s holdings in Boston Scientific were worth $1,364,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position 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 worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd boosted its position in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. grew 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 buying an additional 1,824,405 shares during the period. Allspring Global Investments Holdings LLC increased its position in Boston Scientific by 98.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after buying an additional 1,091,561 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Boston Scientific by 68.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock worth $198,724,000 after buying an additional 965,080 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.3 %

Shares of BSX opened at $90.43 on Tuesday. The stock has a market capitalization of $133.28 billion, a price-to-earnings ratio of 74.74, a PEG ratio of 2.67 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93. The stock has a 50 day moving average price of $86.70 and a 200 day moving average price of $80.80.

Boston Scientific (NYSE:BSX) last released its quarterly 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the business posted $0.50 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BSX. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. TD Cowen increased their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Bank of America raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,174 shares of company stock valued at $27,323,759. Insiders own 0.50% of the company’s stock.

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.