Boston Scientific Co. (NYSE:BSX) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 69.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 356,764 shares of the medical equipment provider’s stock after selling 815,182 shares during the quarter. Bridgewater Associates LP’s holdings in Boston Scientific were worth $29,897,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in shares of Boston Scientific by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock worth $517,000 after purchasing an additional 2,361 shares during the period. Kennedy Capital Management LLC acquired a new stake in Boston Scientific during the 1st quarter valued at approximately $3,021,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Boston Scientific by 52.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,270 shares of the medical equipment provider’s stock valued at $1,114,000 after acquiring an additional 5,564 shares during the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Boston Scientific in the first quarter worth $37,000. Finally, Swedbank AB purchased a new position in shares of Boston Scientific during the first quarter worth $100,113,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’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 transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock worth $27,894,270 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $90.76 on Thursday. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a fifty day simple moving average of $86.43 and a two-hundred day simple moving average of $80.51. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.76 billion, a price-to-earnings ratio of 75.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the company earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their price target on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. 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. Citigroup lifted their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.