Grassi Investment Management Sells 200 Shares of Boston Scientific Co. (NYSE:BSX)

Grassi Investment Management cut its stake in Boston Scientific Co. (NYSE:BSX) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,600 shares of the medical equipment provider’s stock after selling 200 shares during the period. Grassi Investment Management’s holdings in Boston Scientific were worth $3,235,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the 2nd quarter valued at $26,000. First Foundation Advisors bought a new position in shares of Boston Scientific during the 1st quarter worth about $25,000. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. Andra AP fonden bought a new position in shares of Boston Scientific during the 2nd quarter worth about $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific during the 2nd quarter worth about $30,000. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock worth $26,714,298 in the last quarter. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BSX. Morgan Stanley raised their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research increased their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.59.

Boston Scientific Stock Up 0.3 %

Shares of NYSE:BSX opened at $87.75 on Thursday. Boston Scientific Co. has a one year low of $49.15 and a one year high of $88.79. The company has a 50 day moving average of $83.19 and a 200-day moving average of $77.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The stock has a market cap of $128.74 billion, a price-to-earnings ratio of 73.49, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company earned $0.50 EPS. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.