Boston Scientific Co. (NYSE:BSX) Position Cut by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,073 shares of the medical equipment provider’s stock after selling 343 shares during the period. Pallas Capital Advisors LLC’s holdings in Boston Scientific were worth $364,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BSX. BOKF NA raised its position in shares of Boston Scientific by 14.0% during the 2nd quarter. BOKF NA now owns 3,065 shares of the medical equipment provider’s stock worth $236,000 after buying an additional 377 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new position in shares of Boston Scientific during the second quarter valued at approximately $203,000. J.W. Cole Advisors Inc. raised its holdings in Boston Scientific by 9.2% during the second quarter. J.W. Cole Advisors Inc. now owns 3,989 shares of the medical equipment provider’s stock worth $307,000 after purchasing an additional 336 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Boston Scientific in the second quarter worth approximately $484,000. Finally, Citizens Financial Group Inc. RI bought a new position in Boston Scientific during the 2nd quarter valued at $274,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $96.87 on Thursday. The company has a 50 day simple moving average of $90.36 and a 200-day simple moving average of $84.15. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.36. The firm has a market capitalization of $142.77 billion, a price-to-earnings ratio of 80.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last released 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. 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 the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.26.

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.