AlTi Global Inc. Trims Position in Boston Scientific Co. (NYSE:BSX)

AlTi Global Inc. trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 19.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 16,094 shares of the medical equipment provider’s stock after selling 3,922 shares during the period. AlTi Global Inc.’s holdings in Boston Scientific were worth $1,239,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Bay Advisors LLC raised its position in 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 during the period. First Foundation Advisors acquired a new stake in shares of Boston Scientific during the first quarter worth about $25,000. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the second quarter valued at approximately $26,000. Andra AP fonden acquired a new stake in Boston Scientific during the 2nd quarter worth $29,000. Finally, RiverPark Advisors LLC acquired a new position in Boston Scientific in the first quarter valued at $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

BSX opened at $83.50 on Thursday. The stock has a market capitalization of $122.96 billion, a P/E ratio of 70.17, a price-to-earnings-growth ratio of 2.78 and a beta of 0.79. 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 company’s 50 day simple moving average is $78.94 and its 200-day simple moving average is $74.96. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 20,949 shares of company stock valued at $1,627,877. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Raymond James increased their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. BTIG Research lifted their price objective on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a report on Thursday, July 25th. Finally, Evercore ISI lifted their price objective on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Three 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.65.

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.