Cable Hill Partners LLC Lowers Position in Boston Scientific Co. (NYSE:BSX)

Cable Hill Partners LLC trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,886 shares of the medical equipment provider’s stock after selling 159 shares during the period. Cable Hill Partners LLC’s holdings in Boston Scientific were worth $493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of BSX. Vanguard Group Inc. grew its holdings in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Capital World Investors increased its holdings in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares during the last quarter. Legal & General Group Plc raised its position in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after buying an additional 1,824,405 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Boston Scientific by 15.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after acquiring an additional 1,027,543 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

NYSE BSX opened at $88.77 on Thursday. The company has a market cap of $130.83 billion, a PE ratio of 73.36, a P/E/G ratio of 2.61 and a beta of 0.79. The firm’s 50 day moving average price is $84.89 and its 200-day moving average price is $79.26. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. Boston Scientific Co. has a 52-week low of $53.56 and a 52-week high of $89.30.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 over the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BSX. Wells Fargo & Company upped their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup increased their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus increased 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. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.39.

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.