Moors & Cabot Inc. Trims Holdings in Boston Scientific Co. (NYSE:BSX)

Moors & Cabot Inc. trimmed its position in Boston Scientific Co. (NYSE:BSX) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,245 shares of the medical equipment provider’s stock after selling 298 shares during the period. Moors & Cabot Inc.’s holdings in Boston Scientific were worth $2,199,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter worth about $30,000. Capital Performance Advisors LLP purchased a new position in shares of Boston Scientific during the 3rd quarter worth about $30,000. Finally, Andra AP fonden purchased a new position in shares of Boston Scientific during the 2nd quarter worth about $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s 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 owns 160,467 shares of the company’s stock, valued at $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 quarter, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley increased their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

NYSE:BSX opened at $90.17 on Thursday. The business’s 50-day moving average price is $85.71 and its 200 day moving average price is $79.92. The firm has a market cap of $132.90 billion, a P/E ratio of 74.52, a PEG ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.08. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.