Boston Scientific Corporation $BSX Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 53.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,021,347 shares of the medical equipment provider’s stock after selling 1,185,973 shares during the period. Sei Investments Co. owned 0.07% of Boston Scientific worth $64,089,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Outfitters Financial LLC raised its stake in Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock worth $2,291,000 after acquiring an additional 110 shares during the period. Natural Investments LLC grew its holdings in shares of Boston Scientific by 2.9% during the fourth quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock valued at $384,000 after purchasing an additional 112 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of Boston Scientific by 2.3% during the 4th quarter. Kathmere Capital Management LLC now owns 5,228 shares of the medical equipment provider’s stock worth $498,000 after purchasing an additional 118 shares during the period. Patton Fund Management Inc. lifted its holdings in shares of Boston Scientific by 5.5% in the 4th quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 118 shares during the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in Boston Scientific by 1.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider’s stock valued at $921,000 after purchasing an additional 123 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BSX. Raymond James Financial reaffirmed an “outperform” rating and issued a $88.00 target price (down from $97.00) on shares of Boston Scientific in a research report on Monday, March 30th. Piper Sandler reissued an “overweight” rating and set a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. Oppenheimer set a $90.00 price target on shares of Boston Scientific in a research report on Thursday, April 23rd. Zacks Research cut shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Finally, Royal Bank Of Canada cut their price objective on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $79.84.

Boston Scientific Stock Up 1.6%

Shares of Boston Scientific stock opened at $44.26 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The business’s fifty day moving average price is $47.21 and its two-hundred day moving average price is $64.06. The company has a market capitalization of $65.78 billion, a P/E ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, research analysts forecast that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its board has authorized a share repurchase program on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 3,580 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was bought at an average price of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director directly owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 9,800 shares of company stock valued at $554,012 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.