AE Wealth Management LLC Sells 47,676 Shares of Boston Scientific Corporation (NYSE:BSX)

AE Wealth Management LLC reduced its stake in Boston Scientific Corporation (NYSE:BSX) by 72.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 18,586 shares of the medical equipment provider’s stock after selling 47,676 shares during the quarter. AE Wealth Management LLC’s holdings in Boston Scientific were worth $1,875,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. HM Payson & Co. grew its position in shares of Boston Scientific by 1.4% during the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock valued at $694,000 after acquiring an additional 98 shares during the period. Baldwin Investment Management LLC lifted its stake in Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares during the last quarter. Park Square Financial Group LLC grew its holdings in Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock valued at $208,000 after purchasing an additional 103 shares during the period. Evergreen Capital Management LLC increased its position in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the last quarter. Finally, Forum Financial Management LP increased its position in Boston Scientific by 0.8% in the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider’s stock worth $1,357,000 after buying an additional 112 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BSX. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 target price for the company. Jefferies Financial Group reissued a “hold” rating on shares of Boston Scientific in a research report on Monday, July 21st. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus price target of $117.50.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president directly owned 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’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 completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 457,144 shares of company stock valued at $47,296,288 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $106.07 on Friday. The firm has a 50 day simple moving average of $103.58 and a two-hundred day simple moving average of $101.55. The stock has a market cap of $156.92 billion, a PE ratio of 63.14, a P/E/G ratio of 2.67 and a beta of 0.68. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $108.94. 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 announced its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.