Cypress Wealth Services LLC Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Cypress Wealth Services LLC lowered its position in Boston Scientific Co. (NYSE:BSX) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,490 shares of the medical equipment provider’s stock after selling 128 shares during the quarter. Cypress Wealth Services LLC’s holdings in Boston Scientific were worth $222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in Boston Scientific in the 3rd quarter worth approximately $28,000. Dunhill Financial LLC boosted its holdings in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates grew its position in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the 3rd quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock opened at $98.73 on Friday. The firm has a fifty day simple moving average of $90.79 and a two-hundred day simple moving average of $84.33. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $59.85 and a twelve month high of $99.14. The company has a market capitalization of $145.52 billion, a PE ratio of 81.60, a P/E/G ratio of 2.48 and a beta of 0.80.

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, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the company posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Sanford C. Bernstein upped their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.26.

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.