Boston Scientific Co. (NYSE:BSX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,340,697 shares of the medical equipment provider’s stock after selling 60,587 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of Boston Scientific worth $180,257,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Eagle Bay Advisors LLC grew its holdings in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $26,000. Andra AP fonden acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BSX shares. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday. Evercore ISI lifted their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Argus lifted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Morgan Stanley lifted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Finally, TD Cowen lifted their price target on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 directly 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 this hyperlink. Insiders have sold 20,949 shares of company stock valued at $1,627,877 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $83.31 on Monday. The firm’s fifty day simple moving average is $78.08 and its 200-day simple moving average is $74.16. The stock has a market capitalization of $122.68 billion, a price-to-earnings ratio of 70.01, a PEG ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.