Victory Capital Management Inc. Cuts Position in Boston Scientific Co. (NYSE:BSX)

Victory Capital Management Inc. decreased its position in Boston Scientific Co. (NYSE:BSX) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 527,560 shares of the medical equipment provider’s stock after selling 15,554 shares during the quarter. Victory Capital Management Inc.’s holdings in Boston Scientific were worth $44,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Aptus Capital Advisors LLC increased its position in shares of Boston Scientific by 5.5% during the third quarter. Aptus Capital Advisors LLC now owns 9,969 shares of the medical equipment provider’s stock worth $835,000 after acquiring an additional 520 shares during the period. Aigen Investment Management LP acquired a new position in shares of Boston Scientific during the third quarter worth $567,000. Prime Capital Investment Advisors LLC grew its stake in shares of Boston Scientific by 19.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 10,056 shares of the medical equipment provider’s stock worth $843,000 after purchasing an additional 1,638 shares in the last quarter. Savvy Advisors Inc. acquired a new position in shares of Boston Scientific during the third quarter worth $270,000. Finally, Rakuten Securities Inc. grew its stake in shares of Boston Scientific by 648.6% during the third quarter. Rakuten Securities Inc. now owns 831 shares of the medical equipment provider’s stock worth $70,000 after purchasing an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on BSX shares. Canaccord Genuity Group upped their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, October 21st. BTIG Research upped their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Down 0.7 %

Shares of Boston Scientific stock opened at $86.98 on Friday. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $128.19 billion, a PE ratio of 71.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79. The company has a 50-day moving average of $85.15 and a two-hundred day moving average of $79.39.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was 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 directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last ninety days. Insiders own 0.50% 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 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.