Mount Yale Investment Advisors LLC Decreases Position in Boston Scientific Co. (NYSE:BSX)

Mount Yale Investment Advisors LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,635 shares of the medical equipment provider’s stock after selling 1,234 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Boston Scientific were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Putnam Investments LLC grew its stake in shares of Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Capital World Investors grew its position in Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after purchasing an additional 6,617,360 shares during the last quarter. Capital Research Global Investors acquired a new position in Boston Scientific during the 1st quarter valued at approximately $182,897,000. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Boston Scientific by 11,484.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock worth $98,593,000 after buying an additional 1,690,746 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’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 directly owns 40,188 shares in the company, valued at $2,978,734.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 20,949 shares of company stock valued at $1,627,877 over the last quarter. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BTIG Research upped their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Citigroup lifted their target price on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Barclays upped their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.65.

Boston Scientific Price Performance

Boston Scientific stock opened at $83.92 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The company’s fifty day moving average price is $78.72 and its 200 day moving average price is $74.73. The stock has a market capitalization of $123.12 billion, a P/E ratio of 70.52, a P/E/G ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89.

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