Mizuho Securities USA LLC Sells 17,864 Shares of Boston Scientific Co. (NYSE:BSX)

Mizuho Securities USA LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 15.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 95,492 shares of the medical equipment provider’s stock after selling 17,864 shares during the quarter. Mizuho Securities USA LLC’s holdings in Boston Scientific were worth $8,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BDF Gestion bought a new stake in Boston Scientific in the second quarter valued at approximately $3,570,000. LRI Investments LLC bought a new stake in Boston Scientific in the first quarter valued at approximately $139,000. Cetera Advisor Networks LLC increased its stake 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 purchasing an additional 21,252 shares in the last quarter. Brookstone Capital Management increased its stake in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP bought a new stake in Boston Scientific in the second quarter valued at approximately $482,000. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. TD Cowen raised their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Raymond James increased their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Mizuho lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, BTIG Research raised their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Four investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

BSX opened at $90.17 on Thursday. The firm’s fifty day moving average price is $85.71 and its two-hundred day moving average price is $79.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company has a market capitalization of $132.90 billion, a price-to-earnings ratio of 74.52, a P/E/G ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08.

Boston Scientific (NYSE:BSX) last issued 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. The company 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 quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Boston Scientific 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.