Covestor Ltd Has $63,000 Position in Boston Scientific Co. (NYSE:BSX)

Covestor Ltd lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 22.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 756 shares of the medical equipment provider’s stock after selling 218 shares during the period. Covestor Ltd’s holdings in Boston Scientific were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BSX. Koshinski Asset Management Inc. acquired a new position in shares of Boston Scientific during the 1st quarter valued at $250,000. HBK Sorce Advisory LLC purchased a new stake in shares of Boston Scientific in the first quarter valued at about $714,000. Kingsview Wealth Management LLC raised its holdings in shares of Boston Scientific by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock valued at $381,000 after purchasing an additional 219 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Boston Scientific by 9.3% in the first quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock valued at $1,254,000 after purchasing an additional 1,560 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Boston Scientific by 15.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 13,016 shares of the medical equipment provider’s stock valued at $891,000 after purchasing an additional 1,732 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $87.59 on Friday. The company has a 50 day moving average of $85.03 and a 200 day moving average of $79.33. The stock has a market cap of $129.09 billion, a P/E ratio of 73.36, a P/E/G ratio of 2.61 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $53.56 and a 12 month high of $89.30. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 over the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BSX. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Thursday, October 31st. Raymond James increased their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup increased their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Evercore ISI increased their price target 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 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 presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

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.