Fairbanks Capital Management Inc. Has $1.86 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Fairbanks Capital Management Inc. decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,167 shares of the medical equipment provider’s stock after selling 423 shares during the quarter. Boston Scientific accounts for approximately 1.3% of Fairbanks Capital Management Inc.’s holdings, making the stock its 27th biggest holding. Fairbanks Capital Management Inc.’s holdings in Boston Scientific were worth $1,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BSX. Louisiana State Employees Retirement System acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $5,116,000. Sierra Summit Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $8,038,000. TD Asset Management Inc increased its position in shares of Boston Scientific by 10.7% during the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after purchasing an additional 155,565 shares in the last quarter. HealthInvest Partners AB acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its holdings in Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after acquiring an additional 73,219 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold 62,441 shares of company stock worth $4,624,453 over the last ninety days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 2.1 %

Shares of NYSE BSX traded down $1.56 during midday trading on Tuesday, reaching $74.03. The company’s stock had a trading volume of 9,581,181 shares, compared to its average volume of 6,328,029. 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 $79.43. The stock has a market capitalization of $108.61 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 2.55 and a beta of 0.78. The stock has a 50 day simple moving average of $76.46 and a 200-day simple moving average of $70.69.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BSX shares. UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. BTIG Research increased their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Needham & Company LLC raised their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Two investment 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.