New Age Alpha Advisors LLC Sells 20,571 Shares of Boston Scientific Corporation (NYSE:BSX)

New Age Alpha Advisors LLC lessened its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 98.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 352 shares of the medical equipment provider’s stock after selling 20,571 shares during the period. New Age Alpha Advisors LLC’s holdings in Boston Scientific were worth $36,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Colonial Trust Co SC increased its position in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific in the 4th quarter worth $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $26,000. Ameriflex Group Inc. bought a new stake in shares of Boston Scientific in the 4th quarter worth $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $36,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $102.77 on Tuesday. The company has a market capitalization of $152.27 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The business’s fifty day moving average is $103.52 and its 200 day moving average is $102.07. Boston Scientific Corporation has a fifty-two week low of $75.44 and a fifty-two week high of $108.94.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. Boston Scientific’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on BSX shares. Jefferies Financial Group reissued a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Raymond James Financial lifted their target price on Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their target price on Boston Scientific from $118.00 to $124.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $117.50.

Insider Activity at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction on 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 transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the sale, the director directly owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 345,029 shares of company stock valued at $35,976,603 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.