Richard Bernstein Advisors LLC Sells 4,653 Shares of Boston Scientific Corporation (NYSE:BSX)

Richard Bernstein Advisors LLC trimmed its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,079 shares of the medical equipment provider's stock after selling 4,653 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Boston Scientific were worth $9,894,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BSX. Financial Counselors Inc. boosted its position in Boston Scientific by 63.5% in the first quarter. Financial Counselors Inc. now owns 12,048 shares of the medical equipment provider's stock valued at $1,215,000 after buying an additional 4,680 shares in the last quarter. Callan Capital LLC boosted its position in Boston Scientific by 10.9% in the first quarter. Callan Capital LLC now owns 4,695 shares of the medical equipment provider's stock valued at $474,000 after buying an additional 462 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Boston Scientific by 4.0% in the first quarter. TD Private Client Wealth LLC now owns 40,776 shares of the medical equipment provider's stock valued at $4,113,000 after buying an additional 1,569 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in Boston Scientific in the first quarter valued at approximately $212,000. Finally, Envestnet Asset Management Inc. boosted its position in Boston Scientific by 14.3% in the first quarter. Envestnet Asset Management Inc. now owns 2,790,965 shares of the medical equipment provider's stock valued at $281,553,000 after buying an additional 349,246 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president directly owned 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock worth $47,755,193 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on BSX. Citigroup restated a "buy" rating and issued a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. 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 target on the stock. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada lifted 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. Finally, Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Stock Down 1.3%

BSX traded down $1.39 during midday trading on Tuesday, hitting $102.44. The company had a trading volume of 7,750,791 shares, compared to its average volume of 6,676,004. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The stock's 50 day moving average price is $103.45 and its 200 day moving average price is $100.32. The company has a market capitalization of $151.55 billion, a price-to-earnings ratio of 74.77, a PEG ratio of 2.70 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the firm posted $0.56 EPS. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.