Alliance Wealth Advisors LLC UT Sells 4,651 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• Alliance Wealth Advisors LLC UT reduced its stake in Boston Scientific Corporation by 46% in the first quarter, selling 4,651 shares, and now holds 5,449 shares valued at $550,000.
• Boston Scientific recently reported earnings per share of $0.75 for the quarter, surpassing estimates by $0.03 and showing a 22.8% increase in revenue year-over-year.
• Equity analysts have high expectations for Boston Scientific, with a consensus rating of "Buy" and an average target price of $117.50, reflecting strong confidence in the company's growth prospects.

Alliance Wealth Advisors LLC UT trimmed its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 46.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,449 shares of the medical equipment provider's stock after selling 4,651 shares during the period. Alliance Wealth Advisors LLC UT's holdings in Boston Scientific were worth $550,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. HM Payson & Co. lifted its stake in shares of Boston Scientific by 1.4% during the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after acquiring an additional 98 shares during the last quarter. Baldwin Investment Management LLC lifted its stake in shares of Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after acquiring an additional 102 shares during the last quarter. Park Square Financial Group LLC lifted its stake in shares of Boston Scientific by 5.2% during the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after acquiring an additional 103 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in shares of Boston Scientific by 13.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock worth $89,000 after acquiring an additional 103 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after acquiring an additional 106 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Down 1.0%

Shares of NYSE:BSX opened at $103.15 on Friday. Boston Scientific Corporation has a 12-month low of $77.29 and a 12-month high of $108.94. The business's fifty day simple moving average is $103.56 and its 200-day simple moving average is $102.09. The company has a market capitalization of $152.84 billion, a PE ratio of 61.40, a P/E/G ratio of 2.48 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 22.8% on a year-over-year basis. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Oppenheimer raised their price target on Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Barclays lifted their target price on Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, Leerink Partners initiated coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 target price for the company. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $117.50.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director directly owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the transaction, the director owned 2,081 shares in the company, valued at approximately $222,646.19. This trade 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 worth $35,976,603 over the last quarter. Company insiders own 0.50% of the company's stock.

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.

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