Insigneo Advisory Services LLC Reduces Position in Boston Scientific Co. (NYSE:BSX)

Insigneo Advisory Services LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,419 shares of the medical equipment provider’s stock after selling 3,540 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Boston Scientific were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC purchased a new position in shares of Boston Scientific in the third quarter valued at about $1,635,000. Wellington Management Group LLP increased its holdings in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after purchasing an additional 718,515 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Boston Scientific in the 3rd quarter worth approximately $9,041,000. Wahed Invest LLC grew its position in shares of Boston Scientific by 9.7% in the 3rd quarter. Wahed Invest LLC now owns 35,679 shares of the medical equipment provider’s stock worth $2,990,000 after buying an additional 3,166 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Boston Scientific during the third quarter valued at approximately $4,695,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Down 0.5 %

Shares of Boston Scientific stock opened at $90.07 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a fifty day moving average of $87.27 and a 200 day moving average of $81.16. The company has a market capitalization of $132.75 billion, a P/E ratio of 74.44, a P/E/G ratio of 2.66 and a beta of 0.80. Boston Scientific Co. has a fifty-two week low of $54.52 and a fifty-two week high of $91.93.

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

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’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 sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,957,676 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BSX. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Sanford C. Bernstein raised their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, BTIG Research lifted their target price 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.