Boston Scientific Corporation (NYSE:BSX) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its position in Boston Scientific Corporation (NYSE:BSX) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,980 shares of the medical equipment provider’s stock after selling 730 shares during the period. Highland Capital Management LLC’s holdings in Boston Scientific were worth $5,446,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in Boston Scientific in the 4th quarter worth approximately $25,000. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares during the period. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific during the 4th quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in Boston Scientific during the 4th quarter worth about $31,000. Finally, Fairway Wealth LLC acquired a new stake in Boston Scientific during the 4th quarter worth about $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Boston Scientific stock opened at $106.83 on Friday. The firm has a market cap of $158.05 billion, a PE ratio of 77.98, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.17. The company’s 50 day moving average is $102.74 and its two-hundred day moving average is $99.55.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company earned $0.56 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on BSX. Leerink Partnrs raised Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Robert W. Baird lifted their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Barclays lifted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. BTIG Research restated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Leerink Partners assumed coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price target on the stock. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $116.09.

Insider Buying and Selling at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.