Harvest Fund Management Co. Ltd Reduces Stake in Boston Scientific Co. (NYSE:BSX)

Harvest Fund Management Co. Ltd lessened its stake in shares of Boston Scientific Co. (NYSE:BSX) by 47.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,272 shares of the medical equipment provider’s stock after selling 6,613 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Boston Scientific were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of BSX. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific in the third quarter worth approximately $28,000. Andra AP fonden purchased a new stake in Boston Scientific in the second quarter valued at $29,000. Lynx Investment Advisory acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,894,270 over the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.1 %

BSX stock opened at $90.19 on Wednesday. The stock has a market cap of $132.92 billion, a P/E ratio of 74.54, a PEG ratio of 2.65 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company’s 50 day moving average is $86.26 and its two-hundred day moving average is $80.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on BSX shares. Royal Bank of Canada upped their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Stifel Nicolaus raised their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four 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 company. Based on data from MarketBeat.com, the stock 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.