Boston Scientific Co. (NYSE:BSX) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its stake in Boston Scientific Co. (NYSE:BSX) by 13.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,118 shares of the medical equipment provider’s stock after selling 2,443 shares during the quarter. Quest Partners LLC’s holdings in Boston Scientific were worth $1,241,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BSX. Hudson Edge Investment Partners Inc. bought a new position in Boston Scientific during the second quarter worth $31,000. Ballentine Partners LLC lifted its position in shares of Boston Scientific by 17.7% in the 2nd quarter. Ballentine Partners LLC now owns 31,840 shares of the medical equipment provider’s stock worth $2,452,000 after buying an additional 4,779 shares during the last quarter. Koss Olinger Consulting LLC bought a new position in shares of Boston Scientific in the 2nd quarter worth about $381,000. Pier 88 Investment Partners LLC boosted its holdings in shares of Boston Scientific by 42.9% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 41,000 shares of the medical equipment provider’s stock valued at $3,157,000 after buying an additional 12,300 shares during the period. Finally, Caprock Group LLC grew its position in shares of Boston Scientific by 61.7% during the 2nd quarter. Caprock Group LLC now owns 42,826 shares of the medical equipment provider’s stock valued at $3,298,000 after buying an additional 16,348 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BSX. Evercore ISI lifted their target price on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Argus boosted their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Raymond James increased 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. Mizuho raised their target price on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Two 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $82.65 on Tuesday. The stock’s 50 day moving average price is $77.52 and its 200 day moving average price is $73.70. 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 stock has a market cap of $121.71 billion, a price-to-earnings ratio of 69.45, a PEG ratio of 2.71 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $82.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts anticipate 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 that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by 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.