Boston Scientific Corporation (NYSE:BSX) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 89.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,338 shares of the medical equipment provider's stock after selling 20,766 shares during the quarter. Edgestream Partners L.P.'s holdings in Boston Scientific were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HM Payson & Co. grew its stake in Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock worth $694,000 after acquiring an additional 98 shares in the last quarter. Baldwin Investment Management LLC lifted its position in Boston Scientific by 1.2% during the fourth 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 last quarter. Park Square Financial Group LLC raised its holdings in shares of Boston Scientific by 5.2% in the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after buying an additional 103 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after buying an additional 106 shares during the last quarter. Finally, Paladin Wealth LLC raised its holdings in shares of Boston Scientific by 1.6% in the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider's stock worth $722,000 after buying an additional 113 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on BSX. Evercore ISI raised their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Royal Bank Of Canada lifted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Raymond James Financial set a $121.00 price target on shares of Boston Scientific and gave the company a "strong-buy" rating in a research report on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $117.13.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded down $1.65 during trading hours on Thursday, hitting $106.11. The company's stock had a trading volume of 3,313,351 shares, compared to its average volume of 7,704,398. The company has a market cap of $156.98 billion, a PE ratio of 77.38, a PEG ratio of 3.00 and a beta of 0.68. The business has a 50 day moving average price of $103.55 and a two-hundred day moving average price of $101.31. 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 12-month low of $71.88 and a 12-month high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the prior year, the business earned $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the 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 transaction, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 457,144 shares of company stock worth $47,296,288 in the last 90 days. Corporate insiders own 0.50% of the company's stock.

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.