Boston Scientific Co. (NYSE:BSX) Shares Sold by NBW Capital LLC

NBW Capital LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,690 shares of the medical equipment provider’s stock after selling 1,449 shares during the quarter. Boston Scientific accounts for approximately 1.4% of NBW Capital LLC’s portfolio, making the stock its 28th largest holding. NBW Capital LLC’s holdings in Boston Scientific were worth $7,033,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. Primecap Management Co. CA raised its stake in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares during the period. Norges Bank purchased a new position in Boston Scientific during the fourth quarter worth approximately $930,626,000. Capital World Investors raised its stake in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Finally, Putnam Investments LLC raised its stake in Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BSX has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Argus raised their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Morgan Stanley lifted their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Stock Down 0.9 %

Shares of BSX traded down $0.66 during trading hours on Friday, reaching $74.50. The stock had a trading volume of 5,500,518 shares, compared to its average volume of 6,960,298. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43. The firm has a 50-day simple moving average of $76.42 and a 200 day simple moving average of $70.91. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $109.30 billion, a price-to-earnings ratio of 62.61, a P/E/G ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period last year, the business earned $0.53 EPS. The business’s revenue was up 14.5% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The disclosure for this sale can be found here. Insiders sold a total of 51,837 shares of company stock worth $3,884,563 in the last quarter. 0.50% of the stock is owned by company insiders.

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.