Boston Scientific Co. (NYSE:BSX) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc lessened its position in Boston Scientific Co. (NYSE:BSXGet Rating) by 58.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,006 shares of the medical equipment provider’s stock after selling 9,688 shares during the period. AdvisorNet Financial Inc’s holdings in Boston Scientific were worth $261,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CAPROCK Group Inc. increased its stake in Boston Scientific by 42.0% during the 1st quarter. CAPROCK Group Inc. now owns 14,574 shares of the medical equipment provider’s stock valued at $645,000 after buying an additional 4,313 shares during the period. US Bancorp DE increased its stake in Boston Scientific by 1.1% during the 1st quarter. US Bancorp DE now owns 226,686 shares of the medical equipment provider’s stock valued at $10,041,000 after buying an additional 2,362 shares during the period. Tobam increased its stake in Boston Scientific by 46.8% during the 1st quarter. Tobam now owns 6,987 shares of the medical equipment provider’s stock valued at $309,000 after buying an additional 2,228 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Boston Scientific during the 1st quarter valued at about $519,000. Finally, Metropolitan Life Insurance Co NY increased its stake in Boston Scientific by 17.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 162,775 shares of the medical equipment provider’s stock valued at $6,915,000 after buying an additional 23,632 shares during the period. Institutional investors and hedge funds own 90.33% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research reports. Canaccord Genuity Group reduced their price objective on shares of Boston Scientific from $51.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, June 29th. Needham & Company LLC upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday, May 27th. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $43.00 to $45.00 in a research report on Thursday, July 28th. TheStreet upgraded shares of Boston Scientific from a “c+” rating to a “b-” rating in a research report on Wednesday, August 24th. Finally, Morgan Stanley reduced their price objective on shares of Boston Scientific from $51.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, July 15th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.83.

Boston Scientific Stock Performance

BSX stock opened at $41.18 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.86 and a current ratio of 1.31. The stock has a market cap of $58.87 billion, a P/E ratio of 71.00, a P/E/G ratio of 2.26 and a beta of 0.85. The firm has a 50 day simple moving average of $40.51 and a 200 day simple moving average of $40.89. Boston Scientific Co. has a 52 week low of $34.98 and a 52 week high of $47.49.

Boston Scientific (NYSE:BSXGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.22 billion. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Research analysts anticipate that Boston Scientific Co. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $38.00, for a total transaction of $285,000.00. Following the completion of the sale, the executive vice president now directly owns 124,913 shares in the company, valued at $4,746,694. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $38.00, for a total transaction of $285,000.00. Following the transaction, the executive vice president now owns 124,913 shares of the company’s stock, valued at $4,746,694. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $40.99, for a total transaction of $847,509.24. Following the transaction, the executive vice president now directly owns 72,486 shares in the company, valued at approximately $2,971,201.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,764 shares of company stock worth $2,718,248. 0.66% of the stock is owned by company insiders.

Boston Scientific Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

See Also

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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