Boston Scientific Co. (NYSE:BSX) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lessened its position in Boston Scientific Co. (NYSE:BSX) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,397 shares of the medical equipment provider’s stock after selling 165 shares during the period. Cornerstone Wealth Management LLC’s holdings in Boston Scientific were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Park Avenue Securities LLC lifted its position in Boston Scientific by 12.8% during the first quarter. Park Avenue Securities LLC now owns 12,435 shares of the medical equipment provider’s stock worth $852,000 after buying an additional 1,413 shares during the period. &PARTNERS purchased a new position in shares of Boston Scientific during the 1st quarter worth about $344,000. International Assets Investment Management LLC boosted its position in shares of Boston Scientific by 5.9% in the first quarter. International Assets Investment Management LLC now owns 22,457 shares of the medical equipment provider’s stock worth $1,538,000 after acquiring an additional 1,248 shares during the last quarter. Ballentine Partners LLC grew its holdings in Boston Scientific by 8.0% in the first quarter. Ballentine Partners LLC now owns 27,061 shares of the medical equipment provider’s stock valued at $1,853,000 after purchasing an additional 1,993 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in Boston Scientific during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $88.07 on Friday. The firm has a market cap of $129.21 billion, a price-to-earnings ratio of 74.01, a PEG ratio of 2.87 and a beta of 0.80. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $82.49 and its two-hundred day moving average is $77.16. Boston Scientific Co. has a 52-week low of $49.15 and a 52-week high of $88.71.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for 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 firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. Analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BSX shares. Robert W. Baird lifted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen boosted their price target on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Truist Financial raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Needham & Company LLC cut Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Friday. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.10.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’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 sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were 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 owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 316,253 shares of company stock valued at $26,714,298. Insiders own 0.50% of the company’s stock.

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.