Fifth Third Wealth Advisors LLC Sells 276 Shares of Boston Scientific Co. (NYSE:BSX)

Fifth Third Wealth Advisors LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,545 shares of the medical equipment provider’s stock after selling 276 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Boston Scientific were worth $2,392,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital World Investors lifted its holdings in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Boston Scientific during the first quarter worth about $182,897,000. AustralianSuper Pty Ltd increased its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings 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 worth $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

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

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

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent research reports. Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. TD Cowen upped their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Monday. Robert W. Baird upped their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, BTIG Research raised their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Transactions at Boston Scientific

In other 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 sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

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.