Boston Scientific Co. (NYSE:BSX) Shares Sold by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 34.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 286 shares of the medical equipment provider’s stock after selling 153 shares during the period. Bruce G. Allen Investments LLC’s holdings in Boston Scientific were worth $29,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $33,074,000. Golden State Wealth Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $109,000. Apollon Wealth Management LLC lifted its position in shares of Boston Scientific by 9.7% in the fourth quarter. Apollon Wealth Management LLC now owns 20,355 shares of the medical equipment provider’s stock valued at $1,818,000 after acquiring an additional 1,793 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in shares of Boston Scientific by 9.9% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,563 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 593 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 owns 1,535,706 shares in the company, valued at $157,379,150.88. The trade was a 9.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. BTIG Research reiterated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average price target of $116.00.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $100.05 on Tuesday. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The business has a 50 day moving average price of $100.49 and a two-hundred day moving average price of $98.54. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market cap of $148.02 billion, a PE ratio of 80.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm earned $0.56 EPS. Boston Scientific’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Co. will post 2.85 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.