Boston Scientific Co. (NYSE:BSX) is Great Lakes Advisors LLC’s 4th Largest Position

Great Lakes Advisors LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,304,870 shares of the medical equipment provider’s stock after selling 89,294 shares during the quarter. Boston Scientific accounts for about 1.6% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 4th largest holding. Great Lakes Advisors LLC owned approximately 0.16% of Boston Scientific worth $177,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BSX. Eagle Bay Advisors LLC lifted its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares during the period. First Foundation Advisors purchased a new stake in Boston Scientific in the 1st quarter worth approximately $25,000. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $26,000. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific in the 1st quarter valued at approximately $30,000. Finally, Lynx Investment Advisory purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX traded up $0.23 on Friday, hitting $81.60. 4,618,961 shares of the company traded hands, compared to its average volume of 6,073,755. The company has a market capitalization of $119.72 billion, a price-to-earnings ratio of 68.61, a P/E/G ratio of 2.71 and a beta of 0.78. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average price is $77.40 and its 200-day moving average price is $73.48. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $82.47.

Boston Scientific (NYSE:BSX) last released its 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 return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 earnings per share. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 20,949 shares of company stock worth $1,627,877 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Boston Scientific in a research note on Thursday, July 25th. Truist Financial raised their target price on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC raised their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity Group raised their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.38.

Boston Scientific Company 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.