Mutual Advisors LLC Sells 2,491 Shares of Boston Scientific Corporation (NYSE:BSX)

Mutual Advisors LLC trimmed its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 34.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,687 shares of the medical equipment provider's stock after selling 2,491 shares during the period. Mutual Advisors LLC's holdings in Boston Scientific were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth about $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the firm'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 transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

NYSE:BSX traded down $1.39 during mid-day trading on Tuesday, hitting $102.44. 7,750,768 shares of the stock were exchanged, compared to its average volume of 7,684,844. The stock has a market capitalization of $151.55 billion, a price-to-earnings ratio of 74.77, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The firm's 50-day simple moving average is $103.45 and its 200 day simple moving average is $100.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 EPS. As a group, equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Royal Bank Of Canada upped their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Truist Financial upped their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Barclays upped their target price on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific currently has an average rating of "Buy" and a consensus target price 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.