Moran Wealth Management LLC Has $19.81 Million Stock Position in Boston Scientific Corporation (NYSE:BSX)

Moran Wealth Management LLC lessened its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,374 shares of the medical equipment provider's stock after selling 3,250 shares during the quarter. Moran Wealth Management LLC's holdings in Boston Scientific were worth $19,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Colonial Trust Co SC raised its position in Boston Scientific by 1,625.0% in 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 last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the fourth quarter valued at $31,000. Finally, Fairway Wealth LLC bought a new position in Boston Scientific in the fourth quarter valued at about $36,000. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction 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 now owns 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last three months. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 1.7%

Shares of NYSE:BSX traded up $1.76 during midday trading on Tuesday, hitting $104.12. The stock had a trading volume of 7,160,484 shares, compared to its average volume of 7,719,470. The company has a market cap of $154.05 billion, a P/E ratio of 76.00, a PEG ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The business's 50-day simple moving average is $101.94 and its 200-day simple moving average is $99.26. 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 (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm's revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. On average, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Morgan Stanley increased their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank Of Canada upped their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $116.09.

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.