LGT Financial Advisors LLC Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

LGT Financial Advisors LLC decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 59.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 516 shares of the medical equipment provider’s stock after selling 745 shares during the period. LGT Financial Advisors LLC’s holdings in Boston Scientific were worth $43,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CRA Financial Services LLC lifted its holdings in Boston Scientific by 4.3% during the 3rd 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 in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Boston Scientific by 9.7% in 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 purchasing an additional 119 shares during the period. CVA Family Office LLC grew its stake in 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 worth $147,000 after purchasing an additional 131 shares in the last quarter. Jacobsen Capital Management increased its holdings in Boston Scientific by 4.9% during the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares during the period. Finally, S.A. Mason LLC raised its position in Boston Scientific by 6.1% during the 3rd 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 in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value 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 approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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. Finally, StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Trading Up 1.0 %

Boston Scientific stock opened at $86.42 on Thursday. Boston Scientific Co. has a 52 week low of $50.84 and a 52 week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $127.26 billion, a price-to-earnings ratio of 71.42, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The stock has a 50-day moving average price of $84.35 and a 200 day moving average price of $78.74.

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

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.