Prio Wealth Limited Partnership Sells 95,373 Shares of Boston Scientific Co. (NYSE:BSX)

Prio Wealth Limited Partnership reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 754,443 shares of the medical equipment provider’s stock after selling 95,373 shares during the quarter. Boston Scientific comprises about 1.7% of Prio Wealth Limited Partnership’s portfolio, making the stock its 13th biggest position. Prio Wealth Limited Partnership owned 0.05% of Boston Scientific worth $58,100,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific during the 2nd quarter valued at about $26,000. First Foundation Advisors purchased a new stake in Boston Scientific during the first quarter worth $25,000. Eagle Bay Advisors LLC boosted its position in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific in the 2nd quarter valued at $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific in the 2nd quarter worth $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on BSX. TD Cowen lifted their target price on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Raymond James increased 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 report on Wednesday, September 4th. BTIG Research lifted their price target on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Morgan Stanley increased their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.10.

Boston Scientific Trading Up 0.4 %

Shares of NYSE:BSX opened at $84.14 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $84.89. The business has a 50 day moving average of $79.55 and a two-hundred day moving average of $75.56. The company has a market capitalization of $123.44 billion, a PE ratio of 70.71, a PEG ratio of 2.78 and a beta of 0.79.

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

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.