Beacon Investment Advisory Services Inc. Sells 8,981 Shares of Boston Scientific Corporation (NYSE:BSX)

Beacon Investment Advisory Services Inc. reduced its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 46.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,546 shares of the medical equipment provider's stock after selling 8,981 shares during the quarter. Beacon Investment Advisory Services Inc.'s holdings in Boston Scientific were worth $1,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares in the last quarter. Capital World Investors increased its position in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Boston Scientific by 2.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after acquiring an additional 554,388 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $1,762,522,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 457,144 shares of company stock valued at $47,296,288. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

NYSE:BSX traded down $0.14 during trading hours on Friday, hitting $106.07. 5,875,124 shares of the stock traded hands, compared to its average volume of 7,847,640. 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 1 year low of $71.88 and a 1 year high of $108.94. The company has a market cap of $156.92 billion, a price-to-earnings ratio of 63.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68. The stock has a 50 day moving average price of $103.58 and a 200 day moving average price of $101.55.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. Sell-side analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BSX shares. Evercore ISI lifted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Leerink Partners initiated coverage on Boston Scientific in a report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price objective for the company. Barclays increased their price objective on shares of Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a research report on Thursday. 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 report on Thursday, April 24th. Finally, Morgan Stanley increased their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $117.50.

Boston Scientific Company 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.