Boston Scientific Corporation (NYSE:BSX) Stake Trimmed by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. reduced its stake in Boston Scientific Corporation (NYSE: BSX) by 22.2% during the first quarter, bringing its total holdings to 8,757 shares worth approximately $883,000.
• Other institutional investors have also adjusted their positions, with LaSalle St. Investment Advisors increasing its stake by 12.4% and CenterBook Partners LP boosting theirs by 109.1% in the same quarter.
• Boston Scientific reported earnings of $0.75 per share for the last quarter, exceeding expectations and experiencing a 22.8% year-over-year revenue growth to $5.06 billion.

Savvy Advisors Inc. lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 22.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,757 shares of the medical equipment provider's stock after selling 2,506 shares during the quarter. Savvy Advisors Inc.'s holdings in Boston Scientific were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BSX. Brighton Jones LLC grew its position in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Boston Scientific by 40.8% during 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 during the last quarter. Highview Capital Management LLC DE lifted its stake in Boston Scientific by 6.2% during the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after purchasing an additional 1,439 shares during the last quarter. DRW Securities LLC bought a new position in Boston Scientific during the fourth quarter worth $233,000. Finally, CenterBook Partners LP bought a new position in Boston Scientific during the fourth quarter worth $1,144,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Leerink Partners assumed coverage on Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 price objective on the stock. UBS Group raised their price objective on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Oppenheimer raised their price objective on Boston Scientific from $110.00 to $118.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, Evercore ISI raised their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of "Buy" and an average price target of $117.50.

Insider Activity

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the transaction, the executive vice president owned 23,600 shares of the company's stock, valued at approximately $2,469,268. This trade represents a 42.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director directly owned 2,081 shares in the company, valued at $222,646.19. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 345,029 shares of company stock valued at $35,976,603 over the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

NYSE:BSX traded down $0.38 during mid-day trading on Monday, reaching $102.77. 4,166,126 shares of the stock were exchanged, compared to its average volume of 7,572,511. The business has a fifty day moving average price of $103.54 and a 200 day moving average price of $102.07. The firm has a market capitalization of $152.27 billion, a PE ratio of 61.17, a PEG ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a 1-year low of $75.44 and a 1-year high of $108.94. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. Boston Scientific's revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. Research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

About Boston Scientific

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.