Gamco Investors INC. ET AL Sells 5,150 Shares of Boston Scientific Co. (NYSE:BSX)

Gamco Investors INC. ET AL cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,463 shares of the medical equipment provider’s stock after selling 5,150 shares during the period. Gamco Investors INC. ET AL’s holdings in Boston Scientific were worth $3,045,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First Foundation Advisors acquired a new stake in Boston Scientific in the first quarter valued at $25,000. Eagle Bay Advisors LLC increased its holdings 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. RiverPark Advisors LLC acquired a new stake in Boston Scientific in the first quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new stake in Boston Scientific in the first quarter valued at $31,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Boston Scientific in the first quarter valued at $32,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 62,441 shares of company stock valued at $4,624,453. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.66 on Friday, reaching $74.92. 7,973,424 shares of the company were exchanged, compared to its average volume of 5,863,226. Boston Scientific Co. has a one year low of $48.35 and a one year high of $79.43. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 62.98, a PEG ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company has a 50-day moving average of $76.49 and a 200-day moving average of $70.32.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Argus increased their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. BTIG Research increased their price objective on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Needham & Company LLC increased their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho increased their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Barclays increased their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.