Capital Management Associates Inc Trims Position in Boston Scientific Co. (NYSE:BSX)

Capital Management Associates Inc trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 72.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,654 shares of the medical equipment provider’s stock after selling 40,402 shares during the period. Boston Scientific accounts for 0.7% of Capital Management Associates Inc’s portfolio, making the stock its 24th largest holding. Capital Management Associates Inc’s holdings in Boston Scientific were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BSX. Sierra Summit Advisors LLC bought a new position in shares of Boston Scientific in the fourth quarter worth about $8,038,000. TD Asset Management Inc raised its position in shares of Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after buying an additional 155,565 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Boston Scientific by 225.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after buying an additional 73,219 shares in the last quarter. BDF Gestion bought a new position in shares of Boston Scientific during the second quarter worth $3,570,000. Finally, Precision Wealth Strategies LLC bought a new stake in Boston Scientific in the 4th quarter valued at $956,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 20,949 shares of company stock worth $1,583,395 over the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.4 %

Shares of BSX traded up $1.12 during mid-day trading on Friday, hitting $81.79. The company’s stock had a trading volume of 7,639,891 shares, compared to its average volume of 4,296,483. The firm has a market capitalization of $120.45 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 2.71 and a beta of 0.78. The company’s 50-day moving average is $76.94 and its 200-day moving average is $72.98. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $82.10.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. On average, equities research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BTIG Research raised their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. TD Cowen upped their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley raised their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird lifted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. 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 company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $85.24.

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.