MAI Capital Management cut its holdings in Boston Scientific Co. (NYSE:BSX – Get Rating) by 3.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,132 shares of the medical equipment provider's stock after selling 13,325 shares during the quarter. MAI Capital Management's holdings in Boston Scientific were worth $12,528,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in BSX. TCI Wealth Advisors Inc. increased its position in shares of Boston Scientific by 98.8% in the second quarter. TCI Wealth Advisors Inc. now owns 857 shares of the medical equipment provider's stock valued at $32,000 after buying an additional 426 shares in the last quarter. Concorde Financial Corp purchased a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $34,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Boston Scientific in the first quarter valued at approximately $34,000. Quent Capital LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $35,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at approximately $35,000. 90.33% of the stock is currently owned by hedge funds and other institutional investors.
Get Boston Scientific alerts:Boston Scientific Trading Down 1.5 %
Shares of Boston Scientific stock traded down $0.57 during trading hours on Tuesday, hitting $37.79. The company's stock had a trading volume of 119,132 shares, compared to its average volume of 6,318,973. Boston Scientific Co. has a twelve month low of $34.98 and a twelve month high of $47.49. The firm has a fifty day moving average of $40.82 and a 200-day moving average of $40.79. The stock has a market cap of $54.02 billion, a price-to-earnings ratio of 66.14, a P/E/G ratio of 2.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.86 and a current ratio of 1.31.
Boston Scientific (NYSE:BSX – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. Boston Scientific had a return on equity of 14.58% and a net margin of 7.16%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. Research analysts forecast that Boston Scientific Co. will post 1.76 EPS for the current year.Wall Street Analysts Forecast Growth
BSX has been the topic of a number of research analyst reports. Morgan Stanley lowered their price target on Boston Scientific from $51.00 to $46.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. Canaccord Genuity Group lowered their price target on Boston Scientific from $51.00 to $43.00 and set a "buy" rating on the stock in a research note on Wednesday, June 29th. TheStreet raised Boston Scientific from a "c+" rating to a "b-" rating in a research note on Wednesday, August 24th. BTIG Research lifted their price target on Boston Scientific from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 28th. Finally, Canaccord Genuity Group lifted their price target on Boston Scientific from $43.00 to $45.00 in a research note on Thursday, July 28th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.83.
Insider Activity
In other news, EVP Wendy Carruthers sold 7,500 shares of the company's stock in a transaction on Monday, July 18th. The stock was sold at an average price of $38.00, for a total value of $285,000.00. Following the transaction, the executive vice president now owns 124,913 shares of the company's stock, valued at approximately $4,746,694. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 7,500 shares of the business's stock in a transaction on Monday, July 18th. The stock was sold at an average price of $38.00, for a total value of $285,000.00. Following the sale, the executive vice president now owns 124,913 shares in the company, valued at approximately $4,746,694. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the business's stock in a transaction on Monday, August 1st. The shares were sold at an average price of $40.99, for a total value of $847,509.24. Following the completion of the sale, the executive vice president now owns 72,486 shares in the company, valued at approximately $2,971,201.14. The disclosure for this sale can be found here. Insiders have sold a total of 59,264 shares of company stock valued at $2,433,248 in the last quarter. Insiders own 0.66% of the company's stock.
Boston Scientific Company Profile
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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
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