Ameritas Advisory Services LLC Decreases Holdings in Boston Scientific Corporation (NYSE:BSX)

Ameritas Advisory Services LLC cut its position in Boston Scientific Corporation (NYSE:BSX) by 57.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,151 shares of the medical equipment provider’s stock after selling 4,214 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Boston Scientific were worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Colonial Trust Co SC boosted its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $31,000. Finally, Fairway Wealth LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.6%

Boston Scientific stock opened at $104.30 on Friday. The firm has a 50-day moving average price of $103.37 and a two-hundred day moving average price of $99.96. The firm has a market capitalization of $154.30 billion, a price-to-earnings ratio of 76.13, a PEG ratio of 2.69 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.53.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm earned $0.56 EPS. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. Sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Barclays increased their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Citigroup reaffirmed a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Leerink Partners began coverage on Boston Scientific in a report on Monday, June 16th. They set an “outperform” rating and a $118.00 target price on the stock. Finally, Robert W. Baird increased their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $116.09.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the sale, the executive vice president directly owned 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $19,077,243.74. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock valued at $47,755,193 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

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.