Transamerica Financial Advisors Inc. Sells 2,204 Shares of Boston Scientific Co. (NYSE:BSX)

Transamerica Financial Advisors Inc. reduced its stake in Boston Scientific Co. (NYSE:BSX) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,546 shares of the medical equipment provider’s stock after selling 2,204 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Boston Scientific were worth $5,158,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its stake in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. Swedbank AB purchased a new position in Boston Scientific in the first quarter valued at about $100,113,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after purchasing an additional 1,091,561 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.19 during midday trading on Tuesday, hitting $89.44. The company’s stock had a trading volume of 681,549 shares, compared to its average volume of 6,071,645. The company has a market cap of $131.82 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93. The business’s 50 day simple moving average is $86.11 and its 200 day simple moving average is $80.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. On average, analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BSX. Bank of America lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays raised their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Evercore ISI boosted their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Morgan Stanley increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup boosted their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 16.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 45.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 328,157 shares of company stock valued at $27,894,270. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.