Boston Scientific Co. (NYSE:BSX) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC lessened its position in Boston Scientific Co. (NYSE:BSX) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,562 shares of the medical equipment provider’s stock after selling 394 shares during the period. Apollon Wealth Management LLC’s holdings in Boston Scientific were worth $1,555,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BSX. Koshinski Asset Management Inc. acquired a new stake in shares of Boston Scientific in the 1st quarter worth $250,000. HBK Sorce Advisory LLC acquired a new stake in shares of Boston Scientific in the 1st quarter worth $714,000. Kingsview Wealth Management LLC increased its holdings in shares of Boston Scientific by 4.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock valued at $381,000 after purchasing an additional 219 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of Boston Scientific by 9.3% in the 1st quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock valued at $1,254,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Boston Scientific by 15.3% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 13,016 shares of the medical equipment provider’s stock valued at $891,000 after purchasing an additional 1,732 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 1.3 %

Shares of NYSE BSX opened at $87.59 on Friday. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. The stock has a fifty day moving average price of $85.03 and a 200 day moving average price of $79.33. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The company has a market cap of $129.09 billion, a P/E ratio of 72.39, a P/E/G ratio of 2.61 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on BSX. Truist Financial raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird raised their target price on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, TD Cowen lifted their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 309,270 shares of company stock valued at $26,196,718. Corporate insiders own 0.50% of the company’s stock.

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.