Boston Scientific Co. (NYSE:BSX) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,987 shares of the medical equipment provider’s stock after selling 585 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Boston Scientific were worth $1,005,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BSX. BDF Gestion purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $3,570,000. LRI Investments LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $139,000. Cetera Advisor Networks LLC increased its position in shares of Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management increased its position in shares of Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $482,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Up 4.0 %

BSX stock opened at $90.45 on Tuesday. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.08. The stock has a market capitalization of $133.31 billion, a PE ratio of 74.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a fifty day moving average of $85.42 and a 200-day moving average of $79.72.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BSX shares. TD Cowen increased their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Truist Financial increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Bank of America increased their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific 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.