Boston Scientific Co. (NYSE:BSX) Shares Sold by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. lessened its stake in Boston Scientific Co. (NYSE:BSX) by 0.6% during the third quarter, HoldingsChannel.com reports. The firm owned 271,256 shares of the medical equipment provider’s stock after selling 1,735 shares during the period. Braun Stacey Associates Inc.’s holdings in Boston Scientific were worth $22,731,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BSX. BDF Gestion acquired a new stake in Boston Scientific during the second quarter worth about $3,570,000. LRI Investments LLC bought a new position in Boston Scientific in the 1st quarter worth about $139,000. Cetera Advisor Networks LLC grew its position in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after acquiring an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP bought a new position in shares of Boston Scientific in the second quarter valued at approximately $482,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific 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 transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Truist Financial raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Performance

NYSE:BSX opened at $86.99 on Monday. Boston Scientific Co. has a 1 year low of $53.56 and a 1 year high of $89.30. The firm’s fifty day simple moving average is $85.26 and its 200 day simple moving average is $79.59. 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 firm has a market capitalization of $128.21 billion, a PE ratio of 71.89, a PEG ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted 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. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the business posted $0.50 EPS. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific Company 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.