Bollard Group LLC Sells 468,296 Shares of Boston Scientific Corporation $BSX

Bollard Group LLC decreased its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,532,173 shares of the medical equipment provider’s stock after selling 468,296 shares during the quarter. Boston Scientific makes up 34.3% of Bollard Group LLC’s investment portfolio, making the stock its biggest holding. Bollard Group LLC owned approximately 1.25% of Boston Scientific worth $1,162,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its holdings 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 purchasing an additional 226 shares in the last quarter. FWL Investment Management LLC purchased a new stake in Boston Scientific in the second quarter valued at $26,000. Main Street Financial Solutions LLC lifted its position in Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider’s stock valued at $812,000 after acquiring an additional 1,971 shares during the last quarter. Ieq Capital LLC boosted its stake in Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider’s stock valued at $13,275,000 after acquiring an additional 60,860 shares in the last quarter. Finally, HUB Investment Partners LLC grew its holdings in shares of Boston Scientific by 56.2% during the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider’s stock worth $763,000 after purchasing an additional 2,556 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Canaccord Genuity Group decreased their target price on Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $55.00 price target (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Jefferies Financial Group reduced their price objective on Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Oppenheimer set a $90.00 target price on shares of Boston Scientific in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.84.

Insider Buying and Selling at Boston Scientific

In other news, Director Cheryl Pegus acquired 1,770 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the purchase, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig purchased 3,580 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, the director owned 25,359 shares in the company, valued at approximately $1,437,348.12. This represents a 16.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 9,800 shares of company stock valued at $554,012 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

BSX stock opened at $44.26 on Friday. The stock has a 50-day moving average price of $47.21 and a two-hundred day moving average price of $64.06. The company has a market cap of $65.78 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. As a group, research analysts predict that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its Board of Directors has authorized a share buyback program on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Boston Scientific

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.