Boston Scientific Co. (NYSE:BSX) Position Decreased by Pitcairn Co.

Pitcairn Co. trimmed its position in Boston Scientific Co. (NYSE:BSX) by 5.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,609 shares of the medical equipment provider’s stock after selling 409 shares during the quarter. Pitcairn Co.’s holdings in Boston Scientific were worth $453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Bay Advisors LLC grew 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 worth $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors bought a new stake in Boston Scientific in the 1st quarter valued at $25,000. RiverPark Advisors LLC bought a new stake in Boston Scientific in the 1st quarter valued at $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth about $31,000. Finally, Sachetta LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $32,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on 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 $3,316,788.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,259 shares of company stock valued at $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

BSX stock traded down $3.50 during trading on Thursday, reaching $74.26. The stock had a trading volume of 10,958,034 shares, compared to its average volume of 6,285,900. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average is $76.49 and its two-hundred day moving average is $70.18. The firm has a market cap of $108.95 billion, a PE ratio of 63.87, a PEG ratio of 2.70 and a beta of 0.78. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $79.43.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on BSX shares. Wells Fargo & Company upped their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. TD Cowen raised 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. Citigroup raised their price target on shares of Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley raised 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, Robert W. Baird raised their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

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.