Impax Asset Management Group plc Trims Holdings in Boston Scientific Corporation (NYSE:BSX)

Impax Asset Management Group plc trimmed its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 67.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,464,770 shares of the medical equipment provider's stock after selling 3,040,709 shares during the quarter. Impax Asset Management Group plc owned about 0.10% of Boston Scientific worth $146,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the fourth quarter worth $25,000. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the period. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new stake in Boston Scientific in the fourth quarter worth $31,000. Finally, Fairway Wealth LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $36,000. Institutional investors own 89.07% of the company's stock.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

NYSE BSX traded up $0.67 during trading on Friday, reaching $104.30. The company's stock had a trading volume of 2,931,148 shares, compared to its average volume of 6,666,246. The stock has a market capitalization of $154.30 billion, a PE ratio of 76.13, a P/E/G ratio of 2.71 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The firm has a fifty day moving average of $103.42 and a 200 day moving average of $100.05. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping 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 business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 EPS. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Leerink Partners assumed coverage on shares of Boston Scientific in a report on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective for the company. Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Citigroup reiterated a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Robert W. Baird raised their target price on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Twenty-two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and an average target price of $116.09.

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.