FDx Advisors Inc. Sells 1,756 Shares of Boston Scientific Co. (NYSE:BSX)

FDx Advisors Inc. trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 19.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,475 shares of the medical equipment provider’s stock after selling 1,756 shares during the quarter. FDx Advisors Inc.’s holdings in Boston Scientific were worth $576,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BSX. Sierra Summit Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at $8,038,000. TD Asset Management Inc increased its position in 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 valued at $93,417,000 after purchasing an additional 155,565 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Boston Scientific by 225.6% in 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 buying an additional 73,219 shares during the period. BDF Gestion purchased a new stake in shares of Boston Scientific in the 2nd quarter worth about $3,570,000. Finally, Precision Wealth Strategies LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth about $956,000. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BSX shares. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI upped their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Raymond James upped their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. upped 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. Finally, TD Cowen upped their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Boston Scientific Price Performance

Shares of BSX stock opened at $81.95 on Thursday. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $82.47. The firm has a market capitalization of $120.23 billion, a price-to-earnings ratio of 68.87, a PEG ratio of 2.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock’s 50-day simple moving average is $77.22 and its 200-day simple moving average is $73.31.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.