Mediolanum International Funds Ltd Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

Mediolanum International Funds Ltd cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 456,972 shares of the medical equipment provider’s stock after selling 7,318 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Boston Scientific were worth $38,026,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CRA Financial Services LLC boosted its position in Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 117 shares during the last quarter. CVA Family Office LLC boosted its holdings in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after purchasing an additional 131 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Boston Scientific by 0.6% in the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after purchasing an additional 139 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after purchasing an additional 143 shares during the last quarter. Finally, Transcend Capital Advisors LLC lifted its holdings in shares of Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 148 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.2 %

Shares of Boston Scientific stock traded down $0.17 during trading on Friday, hitting $84.93. 1,829,340 shares of the company were exchanged, compared to its average volume of 6,024,712. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm’s fifty day moving average price is $83.19 and its 200 day moving average price is $77.57. Boston Scientific Co. has a 1-year low of $49.15 and a 1-year high of $88.79. The firm has a market capitalization of $124.60 billion, a P/E ratio of 71.52, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its 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. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday. BTIG Research increased their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Thursday. Barclays raised their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Finally, Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

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.