Headlands Technologies LLC Decreases Stake in Boston Scientific Co. (NYSE:BSX)

Headlands Technologies LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 44.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,335 shares of the medical equipment provider’s stock after selling 6,790 shares during the quarter. Headlands Technologies LLC’s holdings in Boston Scientific were worth $642,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Boston Scientific during the 4th quarter valued at about $930,626,000. Putnam Investments LLC boosted its position in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares during the last quarter. Capital World Investors increased its holdings in Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the period. Capital Research Global Investors purchased a new position in Boston Scientific during the 1st quarter worth approximately $182,897,000. Finally, Vanguard Group Inc. lifted its stake in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Argus lifted their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. The Goldman Sachs Group began coverage on shares of Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 price objective on the stock. BTIG Research boosted their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Canaccord Genuity Group boosted their price objective on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.38.

Boston Scientific Stock Performance

Shares of BSX stock opened at $82.87 on Thursday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $83.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm’s 50 day moving average price is $77.79 and its 200-day moving average price is $73.87. The firm has a market cap of $121.58 billion, a P/E ratio of 69.64, a P/E/G ratio of 2.71 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping 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 quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Insiders Place Their Bets

In related 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 completion of the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 20,949 shares of company stock worth $1,627,877 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific 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.