Boston Scientific Co. (NYSE:BSX) Shares Sold by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,777 shares of the medical equipment provider’s stock after selling 346 shares during the period. Boston Scientific comprises about 0.5% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 20th biggest position. Industrial Alliance Investment Management Inc.’s holdings in Boston Scientific were worth $1,218,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BSX. Eagle Bay Advisors LLC increased its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $25,000. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $31,000. Finally, Sachetta LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $32,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,441 shares of company stock worth $4,624,453. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Down 2.1 %

Shares of NYSE:BSX traded down $1.56 during midday trading on Tuesday, hitting $74.03. 9,581,181 shares of the company’s stock traded hands, compared to its average volume of 6,328,029. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company has a market cap of $108.61 billion, a PE ratio of 61.92, a P/E/G ratio of 2.55 and a beta of 0.78. The firm’s fifty day moving average price is $76.49 and its two-hundred day moving average price is $70.59. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $79.43.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 EPS. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Argus lifted their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group began coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price for the company. Raymond James lifted their target price on shares of Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Citigroup lifted their target price on shares of Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Two 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.76.

About Boston Scientific

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.