Great Lakes Advisors LLC Trims Holdings in Boston Scientific Co. (NYSE:BSX)

Great Lakes Advisors LLC reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,304,870 shares of the medical equipment provider’s stock after selling 89,294 shares during the period. Boston Scientific accounts for about 1.6% of Great Lakes Advisors LLC’s holdings, making the stock its 4th largest position. Great Lakes Advisors LLC’s holdings in Boston Scientific were worth $177,498,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC increased its stake in Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Boston Scientific by 0.6% during the second quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after buying an additional 139 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in shares of Boston Scientific by 8.0% during the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock valued at $148,000 after buying an additional 143 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in shares of Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Argus upped their target price on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Canaccord Genuity Group boosted their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Truist Financial boosted their price target on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley boosted their price target on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Boston Scientific Stock Up 0.3 %

Shares of BSX traded up $0.23 during midday trading on Friday, hitting $81.60. 4,618,961 shares of the company’s stock traded hands, compared to its average volume of 6,073,755. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $82.47. The firm’s fifty day moving average is $77.40 and its 200-day moving average is $73.48. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $119.72 billion, a price-to-earnings ratio of 68.61, a price-to-earnings-growth ratio of 2.71 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 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 $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 in the last ninety days. Company insiders own 0.50% of the company’s stock.

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.