Azimuth Capital Investment Management LLC Cuts Position in Boston Scientific Corporation (NYSE:BSX)

Azimuth Capital Investment Management LLC lessened its stake in Boston Scientific Corporation (NYSE:BSX) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,925 shares of the medical equipment provider’s stock after selling 300 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Boston Scientific were worth $295,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Colonial Trust Co SC increased its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $26,000. Y.D. More Investments Ltd purchased a new position in shares of Boston Scientific in the 1st quarter valued at about $27,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.0%

BSX opened at $103.15 on Friday. The firm has a market capitalization of $152.84 billion, a P/E ratio of 61.40, a P/E/G ratio of 2.51 and a beta of 0.66. The firm’s 50 day moving average is $103.56 and its 200-day moving average is $102.10. Boston Scientific Corporation has a 52-week low of $77.29 and a 52-week high of $108.94. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BSX shares. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Raymond James Financial raised their target price on shares of Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a report on Thursday, July 24th. UBS Group raised their target price on shares of Boston Scientific from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Boston Scientific in a report on Thursday, July 24th. Finally, Oppenheimer raised their target price on shares of Boston Scientific from $110.00 to $118.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $117.50.

Insider Activity at Boston Scientific

In related news, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the sale, the director owned 2,081 shares in the company, valued at approximately $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares of the company’s stock, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by corporate insiders.

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.