New Age Alpha Advisors LLC Has $36,000 Stock Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• New Age Alpha Advisors LLC has significantly reduced its stake in Boston Scientific Corporation by 98.3%, selling 20,571 shares and leaving them with only 352 shares valued at $36,000.
• In contrast, other institutional investors have actively increased their holdings, with Colonial Trust Co SC boosting its position by 1,625.0% during the fourth quarter.
• Boston Scientific reported earnings of $0.75 per share, exceeding estimates, and its quarterly revenue of $5.06 billion was up 22.8% year-over-year.

New Age Alpha Advisors LLC decreased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 98.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 352 shares of the medical equipment provider's stock after selling 20,571 shares during the quarter. New Age Alpha Advisors LLC's holdings in Boston Scientific were worth $36,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after purchasing an additional 554,388 shares during the last quarter. Northern Trust Corp increased its position in Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after acquiring an additional 2,221,790 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Boston Scientific by 18.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider's stock valued at $968,172,000 after buying an additional 1,709,461 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Boston Scientific by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,946,379 shares of the medical equipment provider's stock worth $799,092,000 after acquiring an additional 695,000 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on BSX shares. Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. BTIG Research reissued a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Raymond James Financial boosted their price target on Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a research note on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $117.50.

Boston Scientific Trading Down 1.0%

Shares of BSX stock traded down $1.08 during trading hours on Friday, hitting $103.07. 2,801,555 shares of the company were exchanged, compared to its average volume of 7,568,972. The firm has a fifty day moving average of $103.54 and a 200 day moving average of $102.09. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 1 year low of $77.29 and a 1 year high of $108.94. The firm has a market cap of $152.72 billion, a PE ratio of 61.30, a PEG ratio of 2.47 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm's quarterly revenue 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 year.

Insider Activity

In related news, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at approximately $2,469,268. This trade represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock worth $35,976,603 over the last quarter. 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.