Grassi Investment Management Sells 200 Shares of Boston Scientific Co. (NYSE:BSX)

Grassi Investment Management lowered its stake in Boston Scientific Co. (NYSE:BSX) by 0.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,600 shares of the medical equipment provider’s stock after selling 200 shares during the period. Grassi Investment Management’s holdings in Boston Scientific were worth $3,235,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. CRA Financial Services LLC lifted its stake in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares in the last quarter. CVA Family Office LLC lifted its stake in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Boston Scientific by 0.6% in the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after buying an additional 139 shares in the last quarter. ST Germain D J Co. Inc. lifted its stake in Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its stake in Boston Scientific by 2.2% in the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

NYSE:BSX opened at $87.75 on Thursday. Boston Scientific Co. has a one year low of $49.15 and a one year high of $88.79. The company has a market cap of $128.74 billion, a P/E ratio of 73.49, a P/E/G ratio of 2.87 and a beta of 0.80. The firm’s fifty day moving average price is $83.19 and its two-hundred day moving average price is $77.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Robert W. Baird lifted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley lifted their price objective on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.59.

Boston Scientific Profile

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.