Boston Scientific Co. (NYSE:BSX) Stake Decreased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC reduced its stake in Boston Scientific Co. (NYSE:BSX) by 18.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 447,196 shares of the medical equipment provider’s stock after selling 104,396 shares during the quarter. Boston Scientific accounts for approximately 4.8% of Parkman Healthcare Partners LLC’s portfolio, making the stock its largest holding. Parkman Healthcare Partners LLC’s holdings in Boston Scientific were worth $37,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd increased its position in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the period. Ameriprise Financial Inc. increased its position in shares of Boston Scientific by 30.0% during the second 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of Boston Scientific by 98.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after buying an additional 1,091,561 shares during the period. Finally, Handelsbanken Fonder AB increased its position in shares of Boston Scientific by 68.6% during the third quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock valued at $198,724,000 after buying an additional 965,080 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Boston Scientific stock opened at $90.47 on Wednesday. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93. The stock has a market cap of $133.34 billion, a price-to-earnings ratio of 74.77, a PEG ratio of 2.66 and a beta of 0.80. The stock’s 50 day simple moving average is $86.97 and its two-hundred day simple moving average is $81.03. 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 (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, 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 firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was up 19.3% compared to the same quarter last year. As a group, analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,174 shares of company stock valued at $27,323,759. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BSX. Barclays upped their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. 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 research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Evercore ISI upped their price objective on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.