Wealth Alliance Cuts Holdings in Boston Scientific Co. (NYSE:BSX)

Wealth Alliance cut its holdings in Boston Scientific Co. (NYSE:BSX) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,915 shares of the medical equipment provider’s stock after selling 521 shares during the quarter. Wealth Alliance’s holdings in Boston Scientific were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eagle Bay Advisors LLC grew its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. First Foundation Advisors purchased a new position in Boston Scientific during the 1st quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in Boston Scientific during the second quarter worth about $26,000. Andra AP fonden purchased a new stake in shares of Boston Scientific in the second quarter valued at about $29,000. Finally, RiverPark Advisors LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.4 %

NYSE:BSX opened at $83.71 on Friday. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.89. The business’s 50-day moving average is $78.59 and its two-hundred day moving average is $74.51. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm has a market capitalization of $122.81 billion, a PE ratio of 70.34, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the company posted $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares in the company, valued at approximately $2,978,734.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 20,949 shares of company stock worth $1,627,877 in the last quarter. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Raymond James boosted their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Evercore ISI lifted their price objective on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, TD Cowen raised their price target on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $85.38.

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.