Boston Scientific Co. (NYSE:BSX) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC cut its holdings in Boston Scientific Co. (NYSE:BSXGet Rating) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,014 shares of the medical equipment provider’s stock after selling 661 shares during the period. Prudent Man Advisors LLC’s holdings in Boston Scientific were worth $488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $563,108,000. Marshall Wace LLP increased its position in shares of Boston Scientific by 572.2% during the fourth quarter. Marshall Wace LLP now owns 6,357,680 shares of the medical equipment provider’s stock worth $270,075,000 after purchasing an additional 5,411,822 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Boston Scientific by 52.3% during the first quarter. Assenagon Asset Management S.A. now owns 3,078,389 shares of the medical equipment provider’s stock worth $136,342,000 after purchasing an additional 1,057,577 shares in the last quarter. Point72 Asset Management L.P. increased its position in shares of Boston Scientific by 75.3% during the fourth quarter. Point72 Asset Management L.P. now owns 1,902,978 shares of the medical equipment provider’s stock worth $80,839,000 after purchasing an additional 817,400 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $28,650,000. 90.48% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $40.94 on Friday. The business’s 50 day simple moving average is $38.31 and its 200-day simple moving average is $41.29. The firm has a market capitalization of $58.53 billion, a price-to-earnings ratio of 70.59, a price-to-earnings-growth ratio of 2.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 0.78. Boston Scientific Co. has a 12 month low of $34.98 and a 12 month high of $47.49.

Boston Scientific (NYSE:BSXGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.22 billion. Boston Scientific had a return on equity of 14.72% and a net margin of 7.16%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BSX shares. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Wolfe Research started coverage on Boston Scientific in a report on Tuesday, July 5th. They set an “outperform” rating and a $43.00 price target on the stock. Citigroup lowered their price target on Boston Scientific from $52.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 17th. Needham & Company LLC raised Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday, May 27th. Finally, Morgan Stanley lowered their price target on Boston Scientific from $51.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, July 15th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Insider Buying and Selling

In related news, Director Nelda J. Connors sold 16,088 shares of Boston Scientific stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $41.58, for a total transaction of $668,939.04. Following the completion of the transaction, the director now directly owns 4,877 shares in the company, valued at approximately $202,785.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Eric Francis Yves Thepaut sold 20,676 shares of Boston Scientific stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $40.99, for a total transaction of $847,509.24. Following the completion of the transaction, the executive vice president now directly owns 72,486 shares in the company, valued at approximately $2,971,201.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nelda J. Connors sold 16,088 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the completion of the transaction, the director now owns 4,877 shares of the company’s stock, valued at $202,785.66. The disclosure for this sale can be found here. Insiders sold 59,264 shares of company stock worth $2,382,173 in the last ninety days. Insiders own 0.71% of the company’s stock.

Boston Scientific Company Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

See Also

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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