Boston Scientific Co. (NYSE:BSX) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its position in Boston Scientific Co. (NYSE:BSX) by 47.6% during the 3rd quarter, Holdings Channel reports. The fund owned 7,272 shares of the medical equipment provider’s stock after selling 6,613 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Boston Scientific were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at approximately $28,000. Andra AP fonden purchased a new stake in shares of Boston Scientific in the second quarter valued at approximately $29,000. Lynx Investment Advisory acquired a new position in Boston Scientific during the second quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific in the third quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.19 on Wednesday. The company has a market cap of $132.92 billion, a P/E ratio of 74.54, a P/E/G ratio of 2.65 and a beta of 0.79. The business has a fifty day simple moving average of $86.26 and a 200-day simple moving average of $80.44. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. 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 posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during 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%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BSX shares. Mizuho boosted 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. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Truist Financial raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Morgan Stanley boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,894,270 over the last quarter. Company insiders own 0.50% of the company’s stock.

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.