Boston Scientific Co. (NYSE:BSX) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,718,828 shares of the medical equipment provider’s stock after selling 3,364 shares during the period. Boston Scientific accounts for 1.3% of Congress Asset Management Co.’s portfolio, making the stock its 9th largest position. Congress Asset Management Co.’s holdings in Boston Scientific were worth $173,395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covenant Asset Management LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $3,405,000. Wealthstar Advisors LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $499,000. Stratos Wealth Partners LTD. increased its position in Boston Scientific by 136.1% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,590 shares of the medical equipment provider’s stock worth $2,107,000 after purchasing an additional 13,597 shares during the last quarter. BostonPremier Wealth LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $226,000. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after acquiring an additional 21,173 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $102.04 on Friday. The firm has a market cap of $150.96 billion, a P/E ratio of 81.63, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The firm has a fifty day moving average of $100.49 and a two-hundred day moving average of $98.37.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock valued at $42,406,693 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BSX shares. Citigroup reissued a “buy” rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Argus set a $130.00 price objective on shares of Boston Scientific in a research report on Tuesday, February 18th. UBS Group increased their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, Robert W. Baird increased their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and an average price target of $116.00.

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.