Heritage Investors Management Corp Trims Holdings in Boston Scientific Corporation (NYSE:BSX)

Heritage Investors Management Corp trimmed its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,365 shares of the medical equipment provider's stock after selling 8,792 shares during the quarter. Heritage Investors Management Corp's holdings in Boston Scientific were worth $18,797,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of BSX. Brighton Jones LLC increased its holdings in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE increased its stake in Boston Scientific by 6.2% during 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. Proficio Capital Partners LLC raised its holdings in shares of Boston Scientific by 40.2% in the fourth quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after buying an additional 1,528 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $263,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX traded down $0.97 during trading hours on Friday, hitting $103.68. 8,571,099 shares of the stock were exchanged, compared to its average volume of 6,754,567. The stock's 50-day moving average price is $103.42 and its two-hundred day moving average price is $101.08. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The company has a market cap of $153.39 billion, a price-to-earnings ratio of 75.68, a price-to-earnings-growth ratio of 2.69 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 11.58% and a return on equity of 18.67%. The company's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BSX. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Barclays upped their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. BTIG Research reiterated a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Robert W. Baird upped their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $116.09.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at $19,077,243.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is currently owned by company insiders.

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.