Cary Street Partners Investment Advisory LLC Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Cary Street Partners Investment Advisory LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,144 shares of the medical equipment provider’s stock after selling 720 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Boston Scientific were worth $981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in BSX. International Assets Investment Management LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $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 increased its holdings 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 acquiring an additional 5,581 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in Boston Scientific in the 1st quarter worth about $230,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX opened at $54.34 on Friday. The company has a market cap of $79.61 billion, a PE ratio of 66.27, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 0.90 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $52.11 and a 200-day moving average price of $52.32. Boston Scientific Co. has a 12-month low of $42.49 and a 12-month high of $55.38.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Boston Scientific had a return on equity of 15.46% and a net margin of 8.93%. Boston Scientific’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 113,356 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $52.51, for a total value of $5,952,323.56. Following the completion of the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, SVP Vance R. Brown sold 15,750 shares of Boston Scientific stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $50.52, for a total value of $795,690.00. Following the transaction, the senior vice president now directly owns 28,578 shares of the company’s stock, valued at approximately $1,443,760.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 113,356 shares of Boston Scientific stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $52.51, for a total value of $5,952,323.56. Following the completion of the transaction, the chief executive officer now directly owns 1,498,922 shares in the company, valued at $78,708,394.22. The disclosure for this sale can be found here. Insiders sold 415,596 shares of company stock worth $21,922,137 in the last quarter. 0.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BSX. Robert W. Baird lifted their price objective on Boston Scientific from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Citigroup reissued a “buy” rating and issued a $63.00 price objective on shares of Boston Scientific in a report on Thursday, September 21st. StockNews.com assumed coverage on Boston Scientific in a research note on Thursday, October 5th. They issued a “hold” rating for the company. BTIG Research raised their target price on Boston Scientific from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Finally, Royal Bank of Canada raised their target price on Boston Scientific from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $60.55.

Boston Scientific Company 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.