1834 Investment Advisors Co. Sells 250 Shares of Boston Scientific Co. (NYSE:BSX)

1834 Investment Advisors Co. lowered its stake in Boston Scientific Co. (NYSE:BSX) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,680 shares of the medical equipment provider’s stock after selling 250 shares during the period. 1834 Investment Advisors Co.’s holdings in Boston Scientific were worth $597,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Global Wealth Strategies & Associates increased its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in Boston Scientific during the fourth quarter valued at approximately $29,000. Dunhill Financial LLC increased its stake in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Boston Scientific in the third quarter worth $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Boston Scientific during the third quarter worth $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $101.97 on Friday. The firm has a market cap of $150.29 billion, a P/E ratio of 84.28, a price-to-earnings-growth ratio of 2.63 and a beta of 0.80. The business’s 50 day moving average is $92.26 and its 200-day moving average is $85.33. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $59.97 and a 1-year high of $102.15.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the business earned $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock valued at $2,702,261 in the last quarter. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. Canaccord Genuity Group boosted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Truist Financial increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.26.

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.