Oppenheimer & Co. Inc. Decreases Holdings in Boston Scientific Co. (NYSE:BSX)

Oppenheimer & Co. Inc. trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 17.5% in the first quarter, Holdings Channel reports. The firm owned 70,391 shares of the medical equipment provider’s stock after selling 14,982 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boston Scientific were worth $4,821,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. boosted its position in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Boston Scientific by 24.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 160 shares during the last quarter. BSW Wealth Partners boosted its position in Boston Scientific by 2.3% in the 4th quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after buying an additional 165 shares during the last quarter. Allstate Corp boosted its position in Boston Scientific by 2.9% in the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after buying an additional 165 shares during the last quarter. Finally, First Affirmative Financial Network boosted its position in Boston Scientific by 4.3% in the 1st quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock valued at $276,000 after buying an additional 166 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,259 shares of company stock valued at $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $77.69 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average price is $75.81 and its two-hundred day moving average price is $69.05. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $77.99. The stock has a market capitalization of $113.98 billion, a P/E ratio of 65.29, a P/E/G ratio of 2.67 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

BSX has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Argus upped their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Robert W. Baird upped their price objective on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.29.

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.