Concord Wealth Partners Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Concord Wealth Partners trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 31.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 621 shares of the medical equipment provider’s stock after selling 280 shares during the quarter. Concord Wealth Partners’ holdings in Boston Scientific were worth $36,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after acquiring an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Boston Scientific during the 4th quarter valued at $5,116,000. Glenmede Trust Co. NA increased its holdings in shares of Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Boston Scientific by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares during the last quarter. Finally, HealthInvest Partners AB bought a new position in shares of Boston Scientific during the fourth quarter valued at $3,746,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BSX shares. Citigroup boosted their target price on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Oppenheimer raised their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, February 1st. Mizuho boosted their target price on shares of Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 16th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $72.86 on Friday. The company has a market capitalization of $106.89 billion, a P/E ratio of 61.23, a P/E/G ratio of 2.48 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The firm’s 50 day simple moving average is $68.30 and its two-hundred day simple moving average is $61.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.45 EPS. Research analysts expect that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares in the company, valued at $3,032,300.46. The disclosure for this sale can be found here. Insiders have sold a total of 78,384 shares of company stock valued at $5,395,560 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.