Korea Investment CORP Sells 197,176 Shares of Boston Scientific Co. (NYSE:BSX)

Korea Investment CORP lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,431,874 shares of the medical equipment provider’s stock after selling 197,176 shares during the quarter. Korea Investment CORP owned 0.10% of Boston Scientific worth $71,637,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Boston Scientific during the 1st quarter worth approximately $26,000. Asset Dedication LLC lifted its position in shares of Boston Scientific by 109.5% during the 1st quarter. Asset Dedication LLC now owns 551 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 288 shares in the last quarter. BerganKDV Wealth Management LLC lifted its position in shares of Boston Scientific by 44.3% during the 1st quarter. BerganKDV Wealth Management LLC now owns 658 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 202 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $35,000. Finally, Concord Wealth Partners raised its holdings in shares of Boston Scientific by 59.7% in the 1st quarter. Concord Wealth Partners now owns 840 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 314 shares during the period. Institutional investors own 89.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BSX. Piper Sandler lifted their price target on shares of Boston Scientific from $58.00 to $62.00 in a report on Thursday, July 6th. Morgan Stanley began coverage on shares of Boston Scientific in a report on Tuesday, May 30th. They issued an “overweight” rating and a $58.00 price target on the stock. BTIG Research lifted their price target on shares of Boston Scientific from $56.00 to $57.00 in a report on Monday, July 17th. Raymond James lifted their price target on shares of Boston Scientific from $60.00 to $61.00 in a report on Friday, July 28th. Finally, CL King initiated coverage on shares of Boston Scientific in a report on Friday, June 30th. They issued a “buy” rating and a $64.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Boston Scientific Trading Up 0.2 %

Boston Scientific stock traded up $0.13 during mid-day trading on Wednesday, hitting $54.81. The company’s stock had a trading volume of 2,180,826 shares, compared to its average volume of 8,029,526. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 0.80. The stock has a market cap of $80.25 billion, a price-to-earnings ratio of 91.13, a price-to-earnings-growth ratio of 2.11 and a beta of 0.79. The business has a 50 day moving average price of $52.23 and a 200-day moving average price of $51.00. Boston Scientific Co. has a 12 month low of $37.74 and a 12 month high of $54.87.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.50 billion. Boston Scientific had a net margin of 6.81% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, analysts forecast that Boston Scientific Co. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 11,671 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $53.24, for a total transaction of $621,364.04. Following the completion of the transaction, the executive vice president now directly owns 72,847 shares of the company’s stock, valued at $3,878,374.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Charles J. Dockendorff sold 17,079 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $50.74, for a total transaction of $866,588.46. Following the completion of the transaction, the director now directly owns 3,946 shares of the company’s stock, valued at $200,220.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 11,671 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $53.24, for a total transaction of $621,364.04. Following the transaction, the executive vice president now directly owns 72,847 shares of the company’s stock, valued at $3,878,374.28. The disclosure for this sale can be found here. Insiders sold 81,139 shares of company stock valued at $4,192,116 over the last three months. Insiders own 0.53% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. 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.