Phoenix Financial Ltd. Sells 36,970 Shares of Boston Scientific Corporation $BSX

Phoenix Financial Ltd. trimmed its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 32.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,308 shares of the medical equipment provider’s stock after selling 36,970 shares during the period. Phoenix Financial Ltd.’s holdings in Boston Scientific were worth $7,450,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. FWL Investment Management LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at about $26,000. Sound Income Strategies LLC boosted its position in shares of Boston Scientific by 90.9% during the second quarter. Sound Income Strategies LLC now owns 252 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 120 shares during the period. Steph & Co. bought a new position in shares of Boston Scientific during the third quarter worth about $25,000. Financial Consulate Inc. acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $25,000. Finally, Kilter Group LLC bought a new stake in Boston Scientific in the 2nd quarter valued at approximately $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $93.66 on Tuesday. The company has a fifty day moving average price of $95.54 and a two-hundred day moving average price of $99.76. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The stock has a market cap of $138.85 billion, a P/E ratio of 50.09, a P/E/G ratio of 1.68 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96.

Insider Activity at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $17,739,678.74. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total value of $1,758,135.15. Following the transaction, the executive vice president owned 23,600 shares of the company’s stock, valued at $2,396,580. This represents a 42.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,204 shares of company stock worth $7,998,563. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BSX shares. Robert W. Baird raised their price target on shares of Boston Scientific from $123.00 to $128.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Truist Financial reduced their target price on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a research note on Friday, January 9th. Citigroup reissued a “buy” rating on shares of Boston Scientific in a research report on Wednesday, January 14th. Finally, Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.