Boston Scientific Corporation (NYSE:BSX) Stock Position Lessened by Financial Perspectives Inc

Financial Perspectives Inc lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,192 shares of the medical equipment provider's stock after selling 7,728 shares during the period. Boston Scientific accounts for approximately 4.7% of Financial Perspectives Inc's portfolio, making the stock its 5th largest holding. Financial Perspectives Inc's holdings in Boston Scientific were worth $13,840,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its holdings in shares of Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors increased its holdings in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last three months. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $101.72 on Wednesday. The stock's 50 day simple moving average is $101.35 and its two-hundred day simple moving average is $98.89. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock has a market cap of $150.49 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.62 and a beta of 0.68. 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 (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. 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. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the topic of a number of research analyst reports. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Robert W. Baird raised their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, BTIG Research reaffirmed a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and an average price target of $116.09.

Boston Scientific Company 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.

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