Boston Scientific Co. (NYSE:BSX) Stake Decreased by Eagle Wealth Strategies LLC

Eagle Wealth Strategies LLC lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,713 shares of the medical equipment provider’s stock after selling 980 shares during the quarter. Boston Scientific comprises about 0.5% of Eagle Wealth Strategies LLC’s investment portfolio, making the stock its 21st biggest holding. Eagle Wealth Strategies LLC’s holdings in Boston Scientific were worth $778,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TFC Financial Management Inc. increased its stake in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Colonial Trust Co SC increased its stake in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.8%

Shares of NYSE:BSX opened at $102.04 on Friday. The firm has a fifty day moving average of $100.49 and a two-hundred day moving average of $98.43. The firm has a market capitalization of $150.96 billion, a P/E ratio of 81.63, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. On average, equities analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the sale, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last quarter. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BSX shares. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. BTIG Research restated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Evercore ISI lifted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Finally, Citigroup restated a “buy” rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $116.00.

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.