Boston Scientific Co. (NYSE:BSX) Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 12.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,802 shares of the medical equipment provider’s stock after selling 10,811 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Boston Scientific were worth $4,262,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BSX. Fiduciary Alliance LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $25,000. BDO Wealth Advisors LLC increased its position in shares of Boston Scientific by 209.4% in the 2nd quarter. BDO Wealth Advisors LLC now owns 594 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 402 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $32,000. Nemes Rush Group LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $33,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $35,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.20 during mid-day trading on Tuesday, hitting $54.66. The stock had a trading volume of 888,659 shares, compared to its average volume of 8,111,832. Boston Scientific Co. has a fifty-two week low of $42.73 and a fifty-two week high of $55.38. The firm has a market cap of $80.08 billion, a PE ratio of 66.41, a PEG ratio of 2.14 and a beta of 0.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.90. The company’s 50-day simple moving average is $52.11 and its 200-day simple moving average is $52.33.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the business earned $0.43 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that Boston Scientific Co. will post 2.01 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 11,671 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $53.95, for a total value of $629,650.45. Following the completion of the sale, the executive vice president now owns 57,058 shares in the company, valued at $3,078,279.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Wendy Carruthers sold 11,671 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $53.95, for a total value of $629,650.45. Following the completion of the sale, the executive vice president now owns 57,058 shares in the company, valued at $3,078,279.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 15,750 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $50.52, for a total transaction of $795,690.00. Following the completion of the sale, the senior vice president now owns 28,578 shares of the company’s stock, valued at approximately $1,443,760.56. The disclosure for this sale can be found here. Insiders sold 408,996 shares of company stock worth $21,589,497 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BSX. Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Mizuho increased their target price on shares of Boston Scientific from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, September 21st. Royal Bank of Canada increased their target price on shares of Boston Scientific from $58.00 to $61.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Stifel Nicolaus increased their target price on shares of Boston Scientific from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Finally, BTIG Research increased their target price on shares of Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.55.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.