Boston Scientific Co. (NYSE:BSX) Holdings Cut by Xponance Inc.

Xponance Inc. decreased its stake in Boston Scientific Co. (NYSE:BSX) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,211 shares of the medical equipment provider’s stock after selling 4,869 shares during the quarter. Xponance Inc.’s holdings in Boston Scientific were worth $15,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in Boston Scientific by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 5,236,779 shares of the medical equipment provider’s stock worth $406,112,000 after buying an additional 62,102 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Boston Scientific by 28.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,950 shares of the medical equipment provider’s stock worth $458,000 after buying an additional 1,315 shares in the last quarter. Integral Health Asset Management LLC lifted its position in Boston Scientific by 8.3% in the 2nd quarter. Integral Health Asset Management LLC now owns 650,000 shares of the medical equipment provider’s stock worth $50,056,000 after buying an additional 50,000 shares in the last quarter. Magnetar Financial LLC lifted its position in Boston Scientific by 57.0% in the 2nd quarter. Magnetar Financial LLC now owns 389,375 shares of the medical equipment provider’s stock worth $29,986,000 after buying an additional 141,330 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Boston Scientific by 2.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 881,247 shares of the medical equipment provider’s stock worth $67,865,000 after buying an additional 24,193 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $83.92 on Monday. 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 $123.12 billion, a price-to-earnings ratio of 70.52, a P/E/G ratio of 2.75 and a beta of 0.79. The company’s fifty day moving average is $78.72 and its two-hundred day moving average is $74.73. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $84.89.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business 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 business earned $0.53 EPS. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the sale, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 20,949 shares of company stock worth $1,627,877. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BSX shares. Barclays increased their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Truist Financial raised their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Evercore ISI raised their price target on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. BTIG Research raised their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $86.65.

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.