Atria Wealth Solutions Inc. Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Atria Wealth Solutions Inc. cut its position in Boston Scientific Co. (NYSE:BSX) by 4.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,055 shares of the medical equipment provider’s stock after selling 605 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Boston Scientific were worth $928,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Eagle Bay Advisors LLC boosted its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors purchased a new stake in Boston Scientific during the 1st quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific in the second quarter valued at about $26,000. RiverPark Advisors LLC purchased a new position in shares of Boston Scientific in the first quarter worth about $30,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Boston Scientific during the second quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Boston Scientific stock opened at $79.17 on Friday. The company’s 50 day simple moving average is $76.59 and its 200-day simple moving average is $72.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.92. The company has a market capitalization of $116.15 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,960 shares of company stock valued at $2,638,984. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on BSX. Canaccord Genuity Group upped their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective for the company. Mizuho raised their target price on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Argus raised their price objective on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Finally, Morgan Stanley increased their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $85.24.

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.