Boston Scientific Co. (NYSE:BSX) Stock Position Lessened by Congress Asset Management Co.

Congress Asset Management Co. cut its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,718,828 shares of the medical equipment provider's stock after selling 3,364 shares during the quarter. Boston Scientific comprises approximately 1.3% of Congress Asset Management Co.'s investment portfolio, making the stock its 9th biggest position. Congress Asset Management Co. owned about 0.12% of Boston Scientific worth $173,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. TFC Financial Management Inc. increased its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the 4th quarter worth $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth $26,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Boston Scientific during the 4th quarter worth $31,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Evercore ISI increased their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. BTIG Research reiterated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Citigroup reiterated a "buy" rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Morgan Stanley increased their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Royal Bank of Canada increased their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific has an average rating of "Buy" and an average price target of $116.00.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock valued at $42,406,693 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Down 0.8%

NYSE:BSX traded down $0.79 during mid-day trading on Friday, hitting $102.04. The stock had a trading volume of 9,114,389 shares, compared to its average volume of 6,467,344. The stock has a 50-day simple moving average of $100.49 and a two-hundred day simple moving average of $98.37. The company has a market capitalization of $150.96 billion, a PE ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm's revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

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.