Golden State Wealth Management LLC Sells 569 Shares of Boston Scientific Corporation (NYSE:BSX)

Golden State Wealth Management LLC trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 46.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 653 shares of the medical equipment provider’s stock after selling 569 shares during the period. Golden State Wealth Management LLC’s holdings in Boston Scientific were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSX. Parnassus Investments LLC grew its holdings in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares during the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares during the last quarter. Finally, Paladin Wealth LLC grew its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 113 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on BSX shares. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Citigroup reissued a “buy” rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $116.09.

Boston Scientific Trading Up 0.6%

Shares of NYSE BSX opened at $104.30 on Monday. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.53. The stock has a market cap of $154.30 billion, a P/E ratio of 76.13, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The firm has a 50-day moving average of $103.42 and a 200 day moving average of $100.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the company posted $0.56 EPS. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.