Boston Scientific Co. (NYSE:BSX) Stock Holdings Lessened by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 10.5% in the second quarter, Holdings Channel.com reports. The firm owned 5,100 shares of the medical equipment provider’s stock after selling 600 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Boston Scientific were worth $218,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Toroso Investments LLC increased its holdings in Boston Scientific by 126.5% in the second quarter. Toroso Investments LLC now owns 30,113 shares of the medical equipment provider’s stock worth $1,288,000 after buying an additional 16,816 shares during the last quarter. Kore Private Wealth LLC acquired a new position in Boston Scientific during the second quarter valued at approximately $217,000. IMA Wealth Inc. grew its holdings in Boston Scientific by 37.5% during the second quarter. IMA Wealth Inc. now owns 46,311 shares of the medical equipment provider’s stock valued at $1,980,000 after purchasing an additional 12,628 shares during the last quarter. California Public Employees Retirement System grew its holdings in Boston Scientific by 6.2% during the second quarter. California Public Employees Retirement System now owns 3,186,649 shares of the medical equipment provider’s stock valued at $136,261,000 after purchasing an additional 184,677 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Boston Scientific by 17.7% during the second quarter. LPL Financial LLC now owns 247,080 shares of the medical equipment provider’s stock valued at $10,565,000 after purchasing an additional 37,176 shares during the last quarter. 89.80% of the stock is owned by institutional investors and hedge funds.

Shares of BSX opened at $41.79 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.55. Boston Scientific Co. has a 1 year low of $32.99 and a 1 year high of $46.28. The stock has a market cap of $59.50 billion, a P/E ratio of 126.64, a price-to-earnings-growth ratio of 2.93 and a beta of 0.88. The stock’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $43.02.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Boston Scientific had a return on equity of 12.67% and a net margin of 4.56%. Boston Scientific’s revenue for the quarter was up 53.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 1.61 EPS for the current year.

In other Boston Scientific news, SVP Scott Olson sold 700 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $43.49, for a total value of $30,443.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 201,042 shares of the company’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $42.92, for a total value of $8,628,722.64. The disclosure for this sale can be found here. Insiders have sold a total of 579,261 shares of company stock worth $25,513,808 in the last ninety days. Insiders own 0.71% of the company’s stock.

BSX has been the subject of several research reports. Morgan Stanley reissued a “buy” rating and issued a $53.00 price objective on shares of Boston Scientific in a research report on Tuesday, September 21st. Needham & Company LLC set a $42.74 target price on Boston Scientific and gave the stock a “hold” rating in a research report on Thursday, July 15th. TheStreet cut Boston Scientific from a “b” rating to a “c+” rating in a research report on Tuesday, July 27th. Credit Suisse Group raised their target price on Boston Scientific from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Finally, Raymond James raised their target price on Boston Scientific from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.65.

Boston Scientific Company Profile

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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