Boston Scientific Co. (NYSE:BSX) Shares Sold by Long Run Wealth Advisors LLC

Long Run Wealth Advisors LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 8.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,719 shares of the medical equipment provider’s stock after selling 3,624 shares during the period. Long Run Wealth Advisors LLC’s holdings in Boston Scientific were worth $3,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP grew its position in shares of Boston Scientific by 2.2% during the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Boston Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after acquiring an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in shares of Boston Scientific by 17.5% during the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,302 shares of company stock worth $4,464,725. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $104.95 on Thursday. The company has a 50 day simple moving average of $94.01 and a 200-day simple moving average of $86.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $154.68 billion, a price-to-earnings ratio of 86.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $64.08 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BSX shares. Morgan Stanley increased their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $100.39.

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.