1832 Asset Management L.P. Sells 949,970 Shares of Boston Scientific Co. (NYSE:BSX)

1832 Asset Management L.P. cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 40.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,394,083 shares of the medical equipment provider’s stock after selling 949,970 shares during the period. 1832 Asset Management L.P. owned approximately 0.10% of Boston Scientific worth $107,358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BSX. Precision Wealth Strategies LLC bought a new stake in Boston Scientific in the fourth quarter valued at approximately $956,000. Aveo Capital Partners LLC raised its stake in Boston Scientific by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after buying an additional 171 shares during the period. TrinityPoint Wealth LLC lifted its holdings in Boston Scientific by 5.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 697 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Boston Scientific by 14.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,237 shares of the medical equipment provider’s stock worth $361,000 after acquiring an additional 767 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in Boston Scientific by 6.0% in the fourth quarter. D.A. Davidson & CO. now owns 9,380 shares of the medical equipment provider’s stock valued at $542,000 after acquiring an additional 529 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 20,949 shares of company stock worth $1,627,877. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.3 %

NYSE BSX opened at $83.92 on Monday. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.89. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $78.72 and a 200-day moving average of $74.73. The company has a market cap of $123.12 billion, a PE ratio of 70.52, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly 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 firm had revenue of $4.12 billion during 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 revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Needham & Company LLC lifted their price target on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Robert W. Baird boosted their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.65.

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.