LGT Financial Advisors LLC Has $97,000 Holdings in Boston Scientific Co. (NYSE:BSX)

LGT Financial Advisors LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 60.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,261 shares of the medical equipment provider’s stock after selling 1,918 shares during the period. LGT Financial Advisors LLC’s holdings in Boston Scientific were worth $97,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BSX. Norges Bank acquired a new stake in Boston Scientific during the fourth quarter worth approximately $930,626,000. Putnam Investments LLC grew its position in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares during the period. Capital World Investors increased its stake in shares of Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Boston Scientific during the 1st quarter valued at $182,897,000. Finally, Vanguard Group Inc. boosted its stake in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 20,949 shares of company stock worth $1,627,877. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BSX shares. The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target for the company. Morgan Stanley boosted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Two equities 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.38.

Boston Scientific Stock Performance

BSX stock opened at $81.39 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The firm has a market cap of $119.41 billion, a PE ratio of 68.39, a P/E/G ratio of 2.71 and a beta of 0.78. The business has a 50 day moving average of $77.30 and a 200-day moving average of $73.37. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $82.47.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (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 the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

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.