Boston Scientific Co. (NYSE:BSX) Stock Position Reduced by MGB Wealth Management LLC

MGB Wealth Management LLC lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,081 shares of the medical equipment provider’s stock after selling 750 shares during the period. MGB Wealth Management LLC’s holdings in Boston Scientific were worth $416,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Manchester Capital Management LLC lifted its holdings in shares of Boston Scientific by 6.8% in the 1st quarter. Manchester Capital Management LLC now owns 7,723 shares of the medical equipment provider’s stock worth $529,000 after purchasing an additional 491 shares during the last quarter. Advisory Alpha LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $369,000. Team Hewins LLC lifted its holdings in shares of Boston Scientific by 5.7% in the 1st quarter. Team Hewins LLC now owns 9,072 shares of the medical equipment provider’s stock worth $621,000 after purchasing an additional 493 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $246,000. Finally, Signaturefd LLC lifted its holdings in shares of Boston Scientific by 5.2% in the 1st quarter. Signaturefd LLC now owns 26,607 shares of the medical equipment provider’s stock worth $1,822,000 after purchasing an additional 1,317 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.6 %

Shares of Boston Scientific stock traded up $0.49 during midday trading on Friday, hitting $77.38. The company’s stock had a trading volume of 1,336,779 shares, compared to its average volume of 6,138,166. The firm has a market capitalization of $113.52 billion, a P/E ratio of 64.61, a PEG ratio of 2.65 and a beta of 0.78. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.99. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a 50-day simple moving average of $75.71 and a 200-day simple moving average of $68.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their target price on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Raymond James raised their target price on Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group assumed coverage on Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.29.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,620,617. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,259 shares of company stock valued at $5,344,014. 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.