Braun Stacey Associates Inc. Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Braun Stacey Associates Inc. cut its holdings in Boston Scientific Co. (NYSE:BSX) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 271,256 shares of the medical equipment provider’s stock after selling 1,735 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Boston Scientific were worth $22,731,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the third quarter valued at approximately $28,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the second quarter worth approximately $29,000. Lynx Investment Advisory acquired a new stake in shares of Boston Scientific in the second quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific in the third quarter worth approximately $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The stock was 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 directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

NYSE BSX opened at $86.99 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52-week low of $53.56 and a 52-week high of $89.30. The business’s 50-day moving average price is $85.26 and its 200 day moving average price is $79.59. The firm has a market cap of $128.21 billion, a P/E ratio of 71.89, a P/E/G ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BSX shares. Royal Bank of Canada boosted their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, BTIG Research boosted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four equities research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.