Shelton Wealth Management LLC Sells 1,271 Shares of Boston Scientific Corporation (NYSE:BSX)

Shelton Wealth Management LLC trimmed its position in shares of Boston Scientific Corporation (NYSE:BSX) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,013 shares of the medical equipment provider’s stock after selling 1,271 shares during the quarter. Shelton Wealth Management LLC’s holdings in Boston Scientific were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC lifted its position in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 97 shares in the last quarter. Baldwin Investment Management LLC lifted its position in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after acquiring an additional 102 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc lifted its position in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after acquiring an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC lifted its position in Boston Scientific by 1.6% in the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after acquiring an additional 113 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Down 0.4%

Boston Scientific stock opened at $101.36 on Friday. The firm has a market capitalization of $149.96 billion, a PE ratio of 73.99, a P/E/G ratio of 2.62 and a beta of 0.68. The company’s 50-day moving average is $101.62 and its 200-day moving average is $98.98. Boston Scientific Corporation 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 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX) last released 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. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business earned $0.56 EPS. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BSX. Citigroup reaffirmed a “buy” rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Robert W. Baird lifted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Barclays lifted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, BTIG Research reiterated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and an average target price of $116.09.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the company’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 in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction dated 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 owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.