Boston Scientific Co. (NYSE:BSX) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC trimmed its position in Boston Scientific Co. (NYSE:BSX) by 51.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,657 shares of the medical equipment provider’s stock after selling 13,542 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Boston Scientific were worth $1,061,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth about $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $25,000. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Andra AP fonden acquired a new stake in Boston Scientific in the 2nd quarter valued at approximately $29,000. Finally, Lynx Investment Advisory purchased a new stake in Boston Scientific in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays raised their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird upped their target price 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, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.55.

Boston Scientific Trading Up 0.3 %

NYSE BSX opened at $87.02 on Thursday. Boston Scientific Co. has a 12 month low of $49.15 and a 12 month high of $88.09. The company has a market capitalization of $127.66 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm’s fifty day moving average price is $82.03 and its 200 day moving average price is $76.89.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,253 shares of company stock worth $26,714,298. 0.50% of the stock is owned by insiders.

Boston Scientific 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.