Strategic Investment Advisors MI Sells 806 Shares of Boston Scientific Corporation (NYSE:BSX)

Strategic Investment Advisors MI cut its holdings in Boston Scientific Corporation (NYSE:BSX) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,536 shares of the medical equipment provider’s stock after selling 806 shares during the quarter. Strategic Investment Advisors MI’s holdings in Boston Scientific were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position 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 acquiring an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE boosted its position in Boston Scientific by 6.2% during the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider’s stock valued at $2,189,000 after acquiring an additional 1,439 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Boston Scientific by 16.2% during the 4th quarter. First Horizon Advisors Inc. now owns 7,469 shares of the medical equipment provider’s stock valued at $667,000 after acquiring an additional 1,044 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Boston Scientific by 41.9% during the 4th quarter. Wealthspire Advisors LLC now owns 6,009 shares of the medical equipment provider’s stock valued at $537,000 after acquiring an additional 1,773 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.12 on Wednesday. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The firm has a market cap of $154.05 billion, a P/E ratio of 76.00, a PEG ratio of 2.65 and a beta of 0.68. The company has a 50 day moving average of $102.14 and a 200 day moving average of $99.29. 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 (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. As a group, research analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BSX shares. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. BTIG Research reaffirmed a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Royal Bank Of Canada boosted their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $116.09.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the 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 of the company’s stock, valued at $18,347,824.96. This represents a 24.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president now directly owns 18,705 shares in the company, 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 have sold 411,970 shares of company stock valued at $42,406,693 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.