Boston Scientific Co. (NYSE:BSX) Shares Sold by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 34.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 557 shares of the medical equipment provider’s stock after selling 290 shares during the period. Glen Eagle Advisors LLC’s holdings in Boston Scientific were worth $50,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BSX. Ameritas Advisory Services LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $658,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Boston Scientific by 15.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,385 shares of the medical equipment provider’s stock valued at $481,000 after acquiring an additional 724 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Boston Scientific in the 4th quarter worth approximately $251,000. Atomi Financial Group Inc. grew its position in Boston Scientific by 16.5% during the 4th quarter. Atomi Financial Group Inc. now owns 9,631 shares of the medical equipment provider’s stock worth $860,000 after purchasing an additional 1,365 shares in the last quarter. Finally, Aspire Private Capital LLC raised its stake in Boston Scientific by 2.7% during the 4th quarter. Aspire Private Capital LLC now owns 12,132 shares of the medical equipment provider’s stock valued at $1,084,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Truist Financial raised their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Finally, Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $114.74.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,830 shares of company stock valued at $20,043,415. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Down 1.8%

Boston Scientific stock opened at $104.67 on Thursday. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $154.85 billion, a PE ratio of 83.73, a PEG ratio of 2.79 and a beta of 0.68. The business’s 50-day simple moving average is $99.76 and its 200-day simple moving average is $97.02.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.