Boston Scientific Corporation (NYSE:BSX) Stake Lowered by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Boston Scientific Corporation by 18.8%, owning 112,038 shares valued at approximately $11.3 million after selling 26,019 shares in the first quarter.
• Insider transactions included EVP Arthur C. Butcher selling 17,314 shares and EVP Joseph Michael Fitzgerald selling 56,372 shares, marking significant decreases in their positions by 43.78% and 24.02% respectively.
• Boston Scientific's latest earnings report showed a 22.8% year-over-year increase in revenue, with a reported EPS of $0.75, exceeding analyst expectations of $0.72.

Pacer Advisors Inc. lessened its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 112,038 shares of the medical equipment provider's stock after selling 26,019 shares during the period. Pacer Advisors Inc.'s holdings in Boston Scientific were worth $11,302,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC lifted its stake in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE raised its position in Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after purchasing an additional 1,439 shares in the last quarter. Modern Wealth Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $269,000. Finally, Blair William & Co. IL raised its position in Boston Scientific by 12.3% in the 4th quarter. Blair William & Co. IL now owns 22,437 shares of the medical equipment provider's stock valued at $2,004,000 after purchasing an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BSX. Evercore ISI increased their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Barclays raised their price target on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and an average price target of $117.50.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 461,144 shares of company stock valued at $47,720,408 over the last three months. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.1%

Shares of NYSE BSX traded down $0.07 on Wednesday, hitting $106.40. The company had a trading volume of 1,383,539 shares, compared to its average volume of 7,682,701. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94. The business has a 50 day moving average of $103.56 and a two-hundred day moving average of $101.69. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $157.41 billion, a P/E ratio of 63.29, a PEG ratio of 2.55 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company's revenue was up 22.8% compared to the same quarter last year. As a group, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.