Boston Scientific Co. (NYSE:BSX) Shares Sold by Financial Perspectives Inc

Financial Perspectives Inc decreased its position in Boston Scientific Co. (NYSE:BSX) by 0.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 146,136 shares of the medical equipment provider’s stock after selling 651 shares during the period. Boston Scientific comprises about 3.4% of Financial Perspectives Inc’s investment portfolio, making the stock its 6th biggest holding. Financial Perspectives Inc’s holdings in Boston Scientific were worth $8,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Bruce G. Allen Investments LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at $28,000. Motco boosted its stake in shares of Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 215 shares during the period. Asset Dedication LLC boosted its stake in shares of Boston Scientific by 42.6% during the 3rd quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock valued at $41,000 after buying an additional 235 shares during the period. Finally, CNB Bank acquired a new stake in shares of Boston Scientific during the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSX. Needham & Company LLC lifted their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Raymond James lifted their price objective on shares of Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Argus lifted their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Evercore ISI lifted their price objective on shares of Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Boston Scientific Price Performance

NYSE:BSX traded up $0.97 on Tuesday, reaching $68.99. The stock had a trading volume of 9,073,838 shares, compared to its average volume of 6,428,136. The company has a market capitalization of $101.22 billion, a P/E ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $69.21. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $67.31 and a 200-day moving average price of $60.07.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the prior year, the business earned $0.45 earnings per share. Research analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,979 shares of company stock valued at $3,418,529. Corporate 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.