Avior Wealth Management LLC Sells 3,312 Shares of Boston Scientific Corporation (NYSE:BSX)

Avior Wealth Management LLC reduced its stake in Boston Scientific Corporation (NYSE:BSX) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,847 shares of the medical equipment provider’s stock after selling 3,312 shares during the period. Avior Wealth Management LLC’s holdings in Boston Scientific were worth $590,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BSX. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after purchasing an additional 21,173 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Boston Scientific by 13.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider’s stock valued at $16,507,000 after buying an additional 22,504 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $33,074,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Boston Scientific by 109.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock valued at $24,126,000 after acquiring an additional 141,398 shares during the period. Finally, Franklin Resources Inc. grew its stake in Boston Scientific by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock valued at $1,477,307,000 after acquiring an additional 832,386 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE:BSX opened at $101.35 on Friday. The business has a 50 day moving average price of $101.77 and a 200-day moving average price of $99.11. 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 quick ratio of 0.88 and a current ratio of 1.45. The firm has a market cap of $149.94 billion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its 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 net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the prior year, the business posted $0.56 earnings per share. Boston Scientific’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the transaction, the executive vice president now owns 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the 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 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 represents a 9.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BSX. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Barclays increased their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Citigroup restated a “buy” rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. BTIG Research reaffirmed a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $116.09.

Boston Scientific Company 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.