Boston Scientific Co. (NYSE:BSX) Shares Sold by CPA Asset Management LLC

CPA Asset Management LLC lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,968 shares of the medical equipment provider’s stock after selling 1,092 shares during the period. CPA Asset Management LLC’s holdings in Boston Scientific were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BSX. Whitaker Myers Wealth Managers LTD. grew its position in shares of Boston Scientific by 4.6% in the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 4,093 shares of the medical equipment provider’s stock valued at $237,000 after purchasing an additional 179 shares during the period. Koss Olinger Consulting LLC increased its stake in Boston Scientific by 3.7% during the 1st quarter. Koss Olinger Consulting LLC now owns 5,322 shares of the medical equipment provider’s stock worth $266,000 after buying an additional 191 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Boston Scientific by 5.4% in the third quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock worth $211,000 after acquiring an additional 205 shares during the last quarter. Altfest L J & Co. Inc. increased its position in shares of Boston Scientific by 1.6% during the third quarter. Altfest L J & Co. Inc. now owns 13,298 shares of the medical equipment provider’s stock worth $702,000 after purchasing an additional 208 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Boston Scientific by 6.1% in the 3rd quarter. Lindbrook Capital LLC now owns 3,687 shares of the medical equipment provider’s stock valued at $195,000 after purchasing an additional 211 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BSX shares. TD Cowen upped their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Raymond James upped their price target on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 1st. Morgan Stanley boosted their target price on Boston Scientific from $58.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, December 4th. Truist Financial raised their price target on shares of Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Finally, Needham & Company LLC boosted their price objective on Boston Scientific from $60.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.62.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 13,662 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Scientific news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. Insiders have sold 76,460 shares of company stock valued at $4,759,945 in the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $0.01 during midday trading on Thursday, hitting $68.61. The company’s stock had a trading volume of 1,394,256 shares, compared to its average volume of 6,477,289. The firm has a market cap of $100.85 billion, a P/E ratio of 64.13, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $68.80. The firm’s fifty day moving average price is $65.24 and its 200-day moving average price is $58.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. On average, sell-side analysts forecast that Boston Scientific Co. will post 2.25 EPS 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.