Crystal Rock Capital Management Sells 3,350 Shares of Boston Scientific Co. (NYSE:BSX)

Crystal Rock Capital Management cut its position in Boston Scientific Co. (NYSE:BSX) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 91,525 shares of the medical equipment provider’s stock after selling 3,350 shares during the period. Boston Scientific makes up approximately 4.5% of Crystal Rock Capital Management’s portfolio, making the stock its 8th largest position. Crystal Rock Capital Management’s holdings in Boston Scientific were worth $7,670,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific in the third quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific during the third quarter worth about $30,000. Capital Performance Advisors LLP acquired a new stake in Boston Scientific during the third quarter worth about $30,000. Finally, First Foundation Advisors acquired a new stake in Boston Scientific during the first quarter worth about $25,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on BSX shares. Truist Financial raised their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Barclays raised their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Citigroup raised their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Four equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific 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 completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

BSX stock opened at $88.48 on Tuesday. The business has a fifty day moving average of $84.74 and a two-hundred day moving average of $79.15. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a market cap of $130.40 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. Boston Scientific Co. has a 52-week low of $52.99 and a 52-week high of $88.94.

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

Boston Scientific Company 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.