Park Avenue Securities LLC Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Park Avenue Securities LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSXGet Rating) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,061 shares of the medical equipment provider’s stock after selling 697 shares during the quarter. Park Avenue Securities LLC’s holdings in Boston Scientific were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BSX. International Assets Investment Management LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $54,000. Acadian Asset Management LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $35,000. Prudential PLC purchased a new stake in Boston Scientific in the 1st quarter worth about $1,076,000. Cetera Investment Advisers raised its position in Boston Scientific by 24.0% in the 1st quarter. Cetera Investment Advisers now owns 28,793 shares of the medical equipment provider’s stock worth $1,275,000 after purchasing an additional 5,581 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $230,000. 90.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on BSX. Citigroup began coverage on shares of Boston Scientific in a research report on Tuesday, December 20th. They issued a “buy” rating and a $54.00 price objective on the stock. Barclays upped their target price on shares of Boston Scientific from $49.00 to $53.00 in a research note on Wednesday, January 4th. Mizuho started coverage on shares of Boston Scientific in a research note on Thursday, December 22nd. They issued a “neutral” rating and a $52.00 target price on the stock. Raymond James upped their target price on shares of Boston Scientific from $48.00 to $54.00 in a research note on Thursday, December 8th. Finally, Morgan Stanley upped their target price on shares of Boston Scientific from $50.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, January 6th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 7,500 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $46.62, for a total transaction of $349,650.00. Following the completion of the sale, the executive vice president now owns 87,413 shares of the company’s stock, valued at $4,075,194.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 11,080 shares of the firm’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $46.75, for a total value of $517,990.00. Following the completion of the transaction, the executive vice president now owns 88,479 shares of the company’s stock, valued at $4,136,393.25. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 7,500 shares of the firm’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $46.62, for a total transaction of $349,650.00. Following the completion of the transaction, the executive vice president now directly owns 87,413 shares of the company’s stock, valued at approximately $4,075,194.06. The disclosure for this sale can be found here. Insiders sold 220,265 shares of company stock valued at $9,561,634 over the last 90 days. Insiders own 0.66% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $45.85 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.95 and a current ratio of 1.45. The firm’s 50 day moving average price is $45.49 and its 200-day moving average price is $42.33. Boston Scientific Co. has a 52-week low of $34.98 and a 52-week high of $47.95. The company has a market cap of $65.67 billion, a PE ratio of 109.17, a P/E/G ratio of 2.30 and a beta of 0.83.

Boston Scientific (NYSE:BSXGet Rating) last posted its earnings results on Wednesday, October 26th. The medical equipment provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Boston Scientific had a net margin of 5.19% and a return on equity of 14.55%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company earned $0.41 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts forecast that Boston Scientific Co. will post 1.73 EPS for the current fiscal year.

Boston Scientific Company Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

Further Reading

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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