Boston Scientific Co. (NYSE:BSX) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,129,901 shares of the medical equipment provider’s stock after selling 367,457 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Boston Scientific were worth $765,086,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after purchasing an additional 173,034 shares during the period. BDF Gestion purchased a new position in Boston Scientific in the second quarter worth $3,570,000. Cetera Advisor Networks LLC raised its position in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after acquiring an additional 21,252 shares in the last quarter. Brookstone Capital Management raised its position in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after acquiring an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in Boston Scientific in the second quarter worth $482,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BSX shares. BTIG Research increased their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group increased their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen raised their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 328,157 shares of company stock valued at $27,894,270. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.6 %

BSX opened at $90.76 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.76 billion, a P/E ratio of 75.01, a PEG ratio of 2.63 and a beta of 0.79. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The business’s fifty day simple moving average is $86.43 and its 200 day simple moving average is $80.51.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.46 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.