Modus Advisors LLC Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Modus Advisors LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 47.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,057 shares of the medical equipment provider's stock after selling 3,716 shares during the quarter. Modus Advisors LLC's holdings in Boston Scientific were worth $409,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BSX. TFC Financial Management Inc. grew its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of 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 acquiring an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new position in Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $26,000. Finally, Ameriflex Group Inc. purchased a new stake in Boston Scientific in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction 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 sale, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,155 shares of company stock worth $19,556,047 over the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. UBS Group upped their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Morgan Stanley raised their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Royal Bank of Canada raised their price target on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. 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, the stock currently has a consensus rating of "Buy" and an average price target of $116.00.

Boston Scientific Trading Up 0.6%

NYSE:BSX traded up $0.58 during trading hours on Friday, hitting $105.08. The company had a trading volume of 10,524,691 shares, compared to its average volume of 6,427,290. The stock has a 50-day moving average price of $100.29 and a 200 day moving average price of $97.88. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market capitalization of $155.46 billion, a PE ratio of 84.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

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

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.