Janney Montgomery Scott LLC Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Janney Montgomery Scott LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,640 shares of the medical equipment provider’s stock after selling 4,668 shares during the period. Janney Montgomery Scott LLC’s holdings in Boston Scientific were worth $16,646,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BDF Gestion purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at $3,570,000. LRI Investments LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $139,000. Cetera Advisor Networks LLC raised its holdings in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares during the period. Brookstone Capital Management lifted its position in Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Boston Scientific by 56.6% in the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock worth $1,703,000 after acquiring an additional 8,982 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on BSX shares. Truist Financial lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Raymond James upped their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Finally, Evercore ISI increased their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Up 1.0 %

Shares of NYSE:BSX opened at $85.54 on Wednesday. The company’s fifty day moving average is $84.21 and its two-hundred day moving average is $78.68. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.79. The stock has a market capitalization of $125.97 billion, a price-to-earnings ratio of 70.69, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for 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%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. Equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 approximately $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. 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 can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.