Jacobi Capital Management LLC Sells 744 Shares of Boston Scientific Co. (NYSE:BSX)

Jacobi Capital Management LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 19.9% during the 1st quarter, HoldingsChannel reports. The fund owned 3,000 shares of the medical equipment provider’s stock after selling 744 shares during the period. Jacobi Capital Management LLC’s holdings in Boston Scientific were worth $205,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the period. Norges Bank purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $930,626,000. Putnam Investments LLC boosted its position in shares of Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the period. Finally, Vontobel Asset Management Inc. boosted its position in shares of Boston Scientific by 10.2% during the fourth quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock valued at $668,472,000 after buying an additional 1,015,140 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.70 during trading hours on Monday, reaching $78.26. 6,469,690 shares of the company’s stock were exchanged, compared to its average volume of 6,182,537. The stock’s 50 day moving average is $76.21 and its 200-day moving average is $69.84. The company has a market cap of $114.82 billion, a price-to-earnings ratio of 65.18, a P/E/G ratio of 2.67 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $78.98.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Royal Bank of Canada boosted their price target on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, BTIG Research boosted their price target on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

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.