Schechter Investment Advisors LLC Lowers Holdings in Boston Scientific Corporation (NYSE:BSX)

Schechter Investment Advisors LLC reduced its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 10.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,857 shares of the medical equipment provider's stock after selling 2,734 shares during the period. Schechter Investment Advisors LLC's holdings in Boston Scientific were worth $2,306,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BSX. Norges Bank bought a new position in shares of Boston Scientific during the fourth quarter valued at $1,762,522,000. Capital World Investors grew its position in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP increased its stake in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock worth $260,057,000 after buying an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE grew its holdings in shares of Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock valued at $335,167,000 after buying an additional 2,535,007 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $19,077,243.74. This represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president directly owned 22,235 shares of the company's stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock worth $47,755,193 in the last 90 days. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BSX. Barclays boosted their price objective 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. Truist Financial lifted their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Finally, Citigroup reissued 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. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $116.09.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.70 during trading on Friday, reaching $103.16. The company had a trading volume of 5,890,147 shares, compared to its average volume of 6,710,119. The firm has a market capitalization of $152.62 billion, a price-to-earnings ratio of 75.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The firm's 50-day simple moving average is $103.42 and its 200 day simple moving average is $100.60. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data 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. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the company earned $0.56 earnings per share. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts forecast 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.