Boston Scientific Co. (NYSE:BSX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 37.5% in the third quarter, HoldingsChannel.com reports. The firm owned 47,406 shares of the medical equipment provider’s stock after selling 28,427 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Boston Scientific were worth $3,973,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific during the 2nd quarter worth approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the third quarter worth approximately $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in Boston Scientific in the 3rd quarter valued at $30,000. Finally, First Foundation Advisors acquired a new stake in Boston Scientific during the 1st quarter worth $25,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BSX. Citigroup lifted their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. TD Cowen upped their price target on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Truist Financial lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Down 0.7 %

Shares of NYSE BSX opened at $86.98 on Friday. The firm’s 50-day moving average is $85.15 and its two-hundred day moving average is $79.39. The company has a market capitalization of $128.19 billion, a PE ratio of 71.88, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating 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 analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Boston Scientific Profile

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.