Braun Stacey Associates Inc. Lowers Holdings in Boston Scientific Corporation (NYSE:BSX)

Braun Stacey Associates Inc. decreased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 264,788 shares of the medical equipment provider's stock after selling 2,955 shares during the period. Boston Scientific accounts for 1.1% of Braun Stacey Associates Inc.'s investment portfolio, making the stock its 29th biggest holding. Braun Stacey Associates Inc.'s holdings in Boston Scientific were worth $26,712,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Parnassus Investments LLC lifted its holdings in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares during the period. HM Payson & Co. grew its position 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 valued at $694,000 after acquiring an additional 98 shares during the period. Baldwin Investment Management LLC grew its position 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 valued at $781,000 after acquiring an additional 102 shares during the period. Evergreen Capital Management LLC grew its position 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 valued at $565,000 after acquiring an additional 106 shares during the period. Finally, PDS Planning Inc grew its position in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock worth $668,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of BSX stock traded down $1.39 during mid-day trading on Tuesday, hitting $102.44. 7,750,300 shares of the stock were exchanged, compared to its average volume of 6,667,482. The firm has a fifty day moving average of $103.45 and a 200 day moving average of $100.32. 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 52-week low of $71.88 and a 52-week high of $107.53. The company has a market cap of $151.55 billion, a PE ratio of 74.77, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period in the previous year, the business earned $0.56 EPS. Boston Scientific's quarterly revenue was up 20.9% on a year-over-year basis. Research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BSX. Leerink Partners began 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. Robert W. Baird increased their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Barclays boosted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $116.09.

Insider Activity at Boston Scientific

In other news, 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 sale, the executive vice president directly owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company's stock, valued at $19,077,243.74. This trade represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock worth $47,755,193 in the last quarter. Corporate insiders own 0.50% of the company's stock.

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.