Sanctuary Advisors LLC Cuts Position in Boston Scientific Co. (NYSE:BSX)

Sanctuary Advisors LLC trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,035 shares of the medical equipment provider’s stock after selling 6,069 shares during the period. Sanctuary Advisors LLC’s holdings in Boston Scientific were worth $6,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. Passumpsic Savings Bank purchased a new position in Boston Scientific during the 3rd quarter valued at about $3,015,000. M&T Bank Corp boosted its stake in shares of Boston Scientific by 0.3% in the third quarter. M&T Bank Corp now owns 106,127 shares of the medical equipment provider’s stock valued at $8,894,000 after purchasing an additional 370 shares during the period. Soltis Investment Advisors LLC acquired a new position in shares of Boston Scientific in the third quarter valued at approximately $240,000. Sunbelt Securities Inc. increased its stake in Boston Scientific by 16.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,414 shares of the medical equipment provider’s stock worth $118,000 after buying an additional 201 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in Boston Scientific by 9.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 27,326 shares of the medical equipment provider’s stock worth $2,301,000 after buying an additional 2,346 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BSX. Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Mizuho increased their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial raised their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.43.

Boston Scientific Stock Down 0.3 %

Shares of NYSE:BSX opened at $90.11 on Monday. Boston Scientific Co. has a 1-year low of $54.95 and a 1-year high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market cap of $132.81 billion, a P/E ratio of 74.47, a P/E/G ratio of 2.67 and a beta of 0.80. The firm has a fifty day moving average price of $87.98 and a 200 day moving average price of $81.87.

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

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.