Daymark Wealth Partners LLC Sells 122 Shares of Boston Scientific Co. (NYSE:BSX)

Daymark Wealth Partners LLC decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,859 shares of the medical equipment provider’s stock after selling 122 shares during the period. Daymark Wealth Partners LLC’s holdings in Boston Scientific were worth $389,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moss Adams Wealth Advisors LLC raised its position in shares of Boston Scientific by 34.5% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 4,565 shares of the medical equipment provider’s stock valued at $461,000 after buying an additional 1,170 shares in the last quarter. NewSquare Capital LLC raised its position in shares of Boston Scientific by 62,900.0% in the 1st quarter. NewSquare Capital LLC now owns 59,850 shares of the medical equipment provider’s stock valued at $6,038,000 after buying an additional 59,755 shares in the last quarter. Courier Capital LLC raised its position in shares of Boston Scientific by 36.4% in the 1st quarter. Courier Capital LLC now owns 30,527 shares of the medical equipment provider’s stock valued at $3,080,000 after buying an additional 8,143 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in shares of Boston Scientific by 1.6% in the 1st quarter. Outlook Wealth Advisors LLC now owns 10,776 shares of the medical equipment provider’s stock valued at $1,087,000 after buying an additional 168 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Boston Scientific by 331.7% in the 1st quarter. Capital Investment Advisors LLC now owns 12,516 shares of the medical equipment provider’s stock valued at $1,263,000 after buying an additional 9,617 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last three months. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BSX. Barclays upped their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Citigroup reiterated a “buy” rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Truist Financial upped their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Twenty-one analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $116.00.

Boston Scientific Trading Down 0.8%

BSX stock opened at $99.23 on Wednesday. The firm has a fifty day moving average price of $100.50 and a 200 day moving average price of $98.55. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two 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 cap of $146.81 billion, a PE ratio of 79.39, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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. 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%. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Sell-side analysts anticipate 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.