Goelzer Investment Management Inc. Cuts Position in Boston Scientific Corporation (NYSE:BSX)

Goelzer Investment Management Inc. lessened its position in shares of Boston Scientific Corporation (NYSE:BSX) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,113 shares of the medical equipment provider’s stock after selling 224 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Boston Scientific were worth $3,542,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew 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 valued at $6,529,000 after buying an additional 21,173 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Boston Scientific by 13.9% during the 4th 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 in the last quarter. Blue Trust Inc. grew its holdings in Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock valued at $504,000 after buying an additional 575 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Boston Scientific during the 4th quarter valued at approximately $33,074,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in Boston Scientific by 109.9% during the 4th 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 buying an additional 141,398 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’s stock in a transaction 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 directly owns 178,342 shares in the company, valued at $18,347,824.96. The trade was a 24.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction on Monday, April 21st. The stock was 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 trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 411,970 shares of company stock valued at $42,406,693. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.0%

Shares of NYSE BSX opened at $101.35 on Monday. The firm has a market cap of $149.95 billion, a PE ratio of 73.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The business has a fifty day simple moving average of $101.77 and a two-hundred day simple moving average of $99.17.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Robert W. Baird lifted their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. BTIG Research reiterated a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Evercore ISI raised their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $116.09.

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.