Anchor Capital Advisors LLC Lowers Stock Holdings in Boston Scientific Corporation $BSX

Anchor Capital Advisors LLC cut its holdings in Boston Scientific Corporation (NYSE:BSX) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 463,214 shares of the medical equipment provider’s stock after selling 17,992 shares during the period. Anchor Capital Advisors LLC’s holdings in Boston Scientific were worth $45,224,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BSX. Brighton Jones LLC lifted its position in Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after buying an additional 226 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Boston Scientific by 8.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 13,079 shares of the medical equipment provider’s stock valued at $1,405,000 after acquiring an additional 1,017 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Boston Scientific by 7.6% during the 2nd quarter. Park Avenue Securities LLC now owns 49,581 shares of the medical equipment provider’s stock worth $5,325,000 after acquiring an additional 3,499 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Boston Scientific by 7.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 4,529 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 326 shares during the period. Finally, CRA Financial Services LLC boosted its position in shares of Boston Scientific by 8.0% in the second quarter. CRA Financial Services LLC now owns 3,769 shares of the medical equipment provider’s stock worth $405,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $91.16 on Wednesday. The company has a market cap of $135.14 billion, a P/E ratio of 48.75, a PEG ratio of 1.56 and a beta of 0.67. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The business’s 50-day simple moving average is $96.42 and its 200 day simple moving average is $100.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.04. Boston Scientific had a net margin of 14.43% and a return on equity of 19.46%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter last year, the company earned $0.63 earnings per share. Boston Scientific’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, Director Ellen M. Zane sold 12,891 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,095 shares of company stock valued at $9,305,450 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BSX. Erste Group Bank lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Truist Financial lowered their price objective on shares of Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. BTIG Research reaffirmed a “buy” rating and issued a $132.00 target price on shares of Boston Scientific in a research report on Friday, November 21st. Evercore ISI set a $112.00 target price on Boston Scientific in a report on Monday, January 5th. Finally, Leerink Partners boosted their price target on Boston Scientific from $127.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $123.89.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.