Fmr LLC Sells 6,263,772 Shares of Boston Scientific Co. (NYSE:BSX)

Fmr LLC trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,196,894 shares of the medical equipment provider’s stock after selling 6,263,772 shares during the quarter. Boston Scientific comprises 0.7% of Fmr LLC’s portfolio, making the stock its 16th biggest holding. Fmr LLC owned about 0.09% of Boston Scientific worth $11,329,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BSX. CRA Financial Services LLC lifted its position in shares of Boston Scientific by 4.3% during the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Boston Scientific by 9.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 119 shares in the last quarter. Adero Partners LLC boosted its position in Boston Scientific by 3.6% in the 3rd quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after buying an additional 127 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in shares of Boston Scientific by 1.3% in the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after buying an additional 129 shares during the period. Finally, CVA Family Office LLC raised its position in shares of 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. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 15.71 % 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, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $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 90 days, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Citigroup lifted their price objective on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays boosted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Trading Down 0.8 %

NYSE:BSX opened at $89.25 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.48 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 has a market cap of $131.53 billion, a P/E ratio of 73.76, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The business has a 50 day moving average price of $86.11 and a two-hundred day moving average price of $80.32.

Boston Scientific (NYSE:BSX) last issued its quarterly 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 firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. As a group, analysts expect 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.