Victory Capital Management Inc. Trims Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Victory Capital Management Inc. reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 527,560 shares of the medical equipment provider’s stock after selling 15,554 shares during the quarter. Victory Capital Management Inc.’s holdings in Boston Scientific were worth $44,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Aptus Capital Advisors LLC increased its holdings in Boston Scientific by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 9,969 shares of the medical equipment provider’s stock worth $835,000 after purchasing an additional 520 shares during the period. Aigen Investment Management LP purchased a new position in Boston Scientific during the 3rd quarter worth $567,000. Prime Capital Investment Advisors LLC increased its holdings in Boston Scientific by 19.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,056 shares of the medical equipment provider’s stock worth $843,000 after purchasing an additional 1,638 shares during the period. Savvy Advisors Inc. purchased a new position in Boston Scientific during the 3rd quarter worth $270,000. Finally, Rakuten Securities Inc. increased its holdings in Boston Scientific by 648.6% during the 3rd quarter. Rakuten Securities Inc. now owns 831 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 720 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Raymond James increased their target price on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Trading Down 0.7 %

Shares of Boston Scientific stock opened at $86.98 on Friday. The stock has a market cap of $128.19 billion, a P/E ratio of 71.88, a P/E/G ratio of 2.61 and a beta of 0.79. The stock’s 50 day simple moving average is $85.15 and its 200-day simple moving average is $79.39. Boston Scientific Co. has a 1-year low of $53.56 and a 1-year high of $89.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock worth $26,196,718 in the last ninety days. Insiders own 0.50% of the company’s stock.

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.