Boston Scientific Corporation (NYSE:BSX) Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp cut its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 982,526 shares of the medical equipment provider's stock after selling 197,000 shares during the period. Boston Scientific accounts for 2.4% of Homestead Advisers Corp's portfolio, making the stock its 12th largest holding. Homestead Advisers Corp owned 0.07% of Boston Scientific worth $99,117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BSX. Bank Pictet & Cie Europe AG increased its stake in shares of Boston Scientific by 40.8% in the fourth 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 in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after buying an additional 6,264 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Boston Scientific in the 1st quarter worth $8,234,000. Blue Trust Inc. lifted its holdings in shares of Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 575 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Boston Scientific by 109.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after purchasing an additional 141,398 shares during the period. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of several research reports. Leerink Partners began coverage on shares of Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target for the company. Robert W. Baird upped their target price on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research report on Thursday. Royal Bank Of Canada increased their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Oppenheimer increased their price target on shares of Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $117.50.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 transaction, the executive vice president directly owned 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 457,144 shares of company stock valued at $47,296,288. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $1.58 during mid-day trading on Thursday, reaching $106.18. The company's stock had a trading volume of 10,211,242 shares, compared to its average volume of 7,759,810. The stock has a 50-day moving average of $103.55 and a two-hundred day moving average 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 1-year low of $71.88 and a 1-year high of $108.94. The stock has a market capitalization of $157.09 billion, a P/E ratio of 77.50, a P/E/G ratio of 3.00 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm posted $0.62 earnings per share. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.