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

Park Avenue Securities LLC trimmed its stake in Boston Scientific Co. (NYSE:BSXGet Rating) by 10.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 6,061 shares of the medical equipment provider’s stock after selling 697 shares during the period. Park Avenue Securities LLC’s holdings in Boston Scientific were worth $235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $27,000. CoreCap Advisors LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $27,000. TCI Wealth Advisors Inc. increased its stake in Boston Scientific by 98.8% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 857 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 426 shares during the period. Charter Oak Capital Management LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $34,000. Finally, Acadian Asset Management LLC purchased a new stake in Boston Scientific during the 1st quarter worth approximately $35,000. 90.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the topic of several recent research reports. Truist Financial upped their target price on shares of Boston Scientific from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, December 20th. Raymond James boosted their price target on shares of Boston Scientific from $48.00 to $54.00 in a report on Thursday, December 8th. Citigroup began coverage on shares of Boston Scientific in a report on Tuesday, December 20th. They set a “buy” rating and a $54.00 price target for the company. TheStreet cut shares of Boston Scientific from a “b-” rating to a “c” rating in a report on Monday, November 28th. Finally, Jefferies Financial Group began coverage on shares of Boston Scientific in a report on Wednesday, October 12th. They set a “buy” rating and a $50.00 price target for the company. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Boston Scientific Trading Up 0.5 %

Shares of Boston Scientific stock opened at $45.85 on Tuesday. The company has a fifty day simple moving average of $45.49 and a 200-day simple moving average of $42.33. Boston Scientific Co. has a 12-month low of $34.98 and a 12-month high of $47.95. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. The stock has a market cap of $65.67 billion, a price-to-earnings ratio of 109.17, a PEG ratio of 2.30 and a beta of 0.83.

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

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 1,678 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $42.60, for a total value of $71,482.80. Following the completion of the sale, the executive vice president now owns 94,913 shares in the company, valued at approximately $4,043,293.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Wendy Carruthers sold 1,678 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $42.60, for a total value of $71,482.80. Following the completion of the sale, the executive vice president now owns 94,913 shares in the company, valued at approximately $4,043,293.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 125,827 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $41.97, for a total transaction of $5,280,959.19. Following the completion of the sale, the chief executive officer now owns 1,767,665 shares of the company’s stock, valued at approximately $74,188,900.05. The disclosure for this sale can be found here. Insiders sold a total of 220,265 shares of company stock worth $9,561,634 in the last 90 days. 0.66% of the stock is owned by insiders.

Boston Scientific 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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