BCS Wealth Management Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

BCS Wealth Management trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 23.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,332 shares of the medical equipment provider’s stock after selling 1,013 shares during the period. BCS Wealth Management’s holdings in Boston Scientific were worth $336,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BSX. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $26,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president now owns 178,342 shares of the company’s stock, valued at $18,347,824.96. This represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Trading Down 0.8%

NYSE BSX opened at $102.04 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $100.49 and its 200 day moving average is $98.47. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The firm has a market capitalization of $150.96 billion, a PE ratio of 81.63, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Evercore ISI lifted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Citigroup reaffirmed a “buy” rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $116.00.

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.