Goelzer Investment Management Inc. Sells 7,496 Shares of Boston Scientific Co. (NYSE:BSX)

Goelzer Investment Management Inc. lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,709 shares of the medical equipment provider’s stock after selling 7,496 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Boston Scientific were worth $2,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position 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 valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. Capital World Investors lifted its position in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares during the period. Putnam Investments LLC grew its stake in shares of Boston Scientific by 110.5% in 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. Finally, Vontobel Asset Management Inc. raised its stake in Boston Scientific by 10.2% during the 4th quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock valued at $668,472,000 after purchasing an additional 1,015,140 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 20,949 shares of company stock worth $1,673,685 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.9 %

Shares of NYSE:BSX opened at $84.54 on Friday. The company has a 50 day moving average price of $80.07 and a two-hundred day moving average price of $75.85. The company has a market capitalization of $124.03 billion, a PE ratio of 71.04, a PEG ratio of 2.78 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $84.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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 business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. Analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BSX shares. Citigroup lifted their target price on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. 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 note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.10.

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.