Pittenger & Anderson Inc. Sells 627 Shares of Boston Scientific Corporation $BSX

Pittenger & Anderson Inc. trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,715 shares of the medical equipment provider’s stock after selling 627 shares during the period. Pittenger & Anderson Inc.’s holdings in Boston Scientific were worth $614,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. HM Payson & Co. boosted its position in shares of Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock worth $694,000 after purchasing an additional 98 shares during the last quarter. IVC Wealth Advisors LLC boosted its position in shares of Boston Scientific by 4.9% in the 2nd quarter. IVC Wealth Advisors LLC now owns 2,199 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 102 shares during the last quarter. Park Square Financial Group LLC boosted its position in shares of Boston Scientific by 5.2% in the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 103 shares during the last quarter. HHM Wealth Advisors LLC boosted its position in shares of Boston Scientific by 13.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider’s stock worth $89,000 after purchasing an additional 103 shares during the last quarter. Finally, Rise Advisors LLC boosted its position in shares of Boston Scientific by 13.9% in the 1st quarter. Rise Advisors LLC now owns 844 shares of the medical equipment provider’s stock worth $85,000 after purchasing an additional 103 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BSX shares. Weiss Ratings restated a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday, October 8th. Evercore ISI dropped their price objective on Boston Scientific from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Erste Group Bank downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Leerink Partners raised their price objective on Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company raised their price objective on Boston Scientific from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus price target of $121.61.

Boston Scientific Stock Performance

BSX opened at $99.88 on Wednesday. The business’s 50-day moving average price is $101.19 and its two-hundred day moving average price is $101.83. Boston Scientific Corporation has a 1 year low of $80.64 and a 1 year high of $109.50. The company has a market capitalization of $148.00 billion, a price-to-earnings ratio of 59.45, a P/E/G ratio of 2.42 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.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. Equities analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $98.47, for a total value of $4,923,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at $17,561,336.74. This trade represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares of the company’s stock, valued at $222,646.19. The trade was a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,214 shares of company stock worth $17,972,457. Company 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.