Louisbourg Investments Inc. Sells 4,605 Shares of Boston Scientific Co. (NYSE:BSX)

Louisbourg Investments Inc. decreased its stake in Boston Scientific Co. (NYSE:BSX) by 35.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the medical equipment provider’s stock after selling 4,605 shares during the period. Louisbourg Investments Inc.’s holdings in Boston Scientific were worth $861,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV bought a new stake in Boston Scientific during the 4th quarter worth approximately $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the fourth quarter valued at $31,000. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $101.49 on Tuesday. The firm has a market capitalization of $150.15 billion, a P/E ratio of 81.19, a P/E/G ratio of 2.79 and a beta of 0.68. The firm’s 50-day moving average price is $101.25 and its 200-day moving average price is $98.87. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping 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 business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BSX shares. Robert W. Baird increased their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Citigroup reissued a “buy” rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Royal Bank of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Evercore ISI raised their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-two investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $116.09.

Insider Buying and Selling

In related news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction dated 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 approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.