Heritage Investors Management Corp Sells 7,684 Shares of Boston Scientific Co. (NYSE:BSX)

Heritage Investors Management Corp cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,864 shares of the medical equipment provider’s stock after selling 7,684 shares during the quarter. Heritage Investors Management Corp’s holdings in Boston Scientific were worth $16,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BSX. CRA Financial Services LLC boosted its position in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 119 shares during the period. CVA Family Office LLC boosted its holdings in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares during the period. Jacobsen Capital Management boosted its holdings in shares of Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock valued at $236,000 after purchasing an additional 133 shares during the period. Finally, S.A. Mason LLC boosted its holdings in shares of Boston Scientific by 6.1% in the third quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 135 shares during the period. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.18 during mid-day trading on Tuesday, hitting $84.54. The stock had a trading volume of 226,219 shares, compared to its average volume of 6,077,154. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company has a 50 day moving average of $84.10 and a two-hundred day moving average of $78.55. Boston Scientific Co. has a twelve month low of $50.84 and a twelve month high of $88.79. The firm has a market cap of $124.50 billion, a PE ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. Research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, October 31st. Robert W. Baird boosted 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. Truist Financial boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Company 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.