Marks Group Wealth Management Inc Sells 104,358 Shares of Boston Scientific Corporation (NYSE:BSX)

Marks Group Wealth Management Inc lessened its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 95.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,883 shares of the medical equipment provider's stock after selling 104,358 shares during the quarter. Marks Group Wealth Management Inc's holdings in Boston Scientific were worth $493,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific in the 4th quarter worth about $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter worth about $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $36,000. Institutional investors own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value 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. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 of the company's stock, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 461,970 shares of company stock worth $47,755,193. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.7%

BSX opened at $103.16 on Monday. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53. The firm has a market capitalization of $152.62 billion, a P/E ratio of 75.30, a PEG ratio of 2.68 and a beta of 0.68. The company's 50-day moving average is $103.42 and its 200 day moving average is $100.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for 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 quarter last year, the firm earned $0.56 EPS. Research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Citigroup reiterated a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Evercore ISI upped their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective on the stock. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and an average price target 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.

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