Morey & Quinn Wealth Partners LLC cut its stake in Boston Scientific Corporation (NYSE:BSX – Free Report) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,031 shares of the medical equipment provider’s stock after selling 493 shares during the period. Boston Scientific comprises approximately 1.0% of Morey & Quinn Wealth Partners LLC’s portfolio, making the stock its 19th largest position. Morey & Quinn Wealth Partners LLC’s holdings in Boston Scientific were worth $1,292,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider’s stock valued at $13,577,311,000 after purchasing an additional 1,697,945 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Boston Scientific by 18.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,610,487 shares of the medical equipment provider’s stock valued at $1,070,387,000 after purchasing an additional 1,664,108 shares during the period. Assenagon Asset Management S.A. increased its stake in Boston Scientific by 161.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,485,696 shares of the medical equipment provider’s stock valued at $250,757,000 after purchasing an additional 1,536,663 shares during the period. Swedbank AB increased its stake in Boston Scientific by 114.5% in the second quarter. Swedbank AB now owns 2,819,249 shares of the medical equipment provider’s stock valued at $302,816,000 after purchasing an additional 1,505,019 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Boston Scientific by 10.8% in the first quarter. Goldman Sachs Group Inc. now owns 14,143,332 shares of the medical equipment provider’s stock valued at $1,426,779,000 after purchasing an additional 1,383,524 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.
Boston Scientific Stock Up 0.9%
Shares of NYSE BSX opened at $96.73 on Thursday. Boston Scientific Corporation has a 12-month low of $80.64 and a 12-month high of $109.50. The company has a market capitalization of $143.33 billion, a PE ratio of 57.58, a price-to-earnings-growth ratio of 2.31 and a beta of 0.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The firm’s 50-day moving average is $102.34 and its two-hundred day moving average is $101.96.
Wall Street Analyst Weigh In
A number of research firms have commented on BSX. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Robert W. Baird boosted their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. UBS Group boosted their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Raymond James Financial boosted their price target on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 24th. Finally, Evercore ISI dropped their price target on shares of Boston Scientific from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $120.71.
Insider Activity
In related news, Director Yoshiaki Fujimori sold 2,901 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the transaction, the director owned 2,081 shares of the company’s stock, valued at approximately $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the transaction, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. The trade was a 42.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,214 shares of company stock worth $17,972,457. 0.50% of the stock is currently owned by corporate insiders.
Boston Scientific Profile
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.
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