Stratos Wealth Partners LTD. Trims Stock Position in Boston Scientific Corporation (NYSE:BSX)

Stratos Wealth Partners LTD. decreased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 71.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,679 shares of the medical equipment provider's stock after selling 16,911 shares during the period. Stratos Wealth Partners LTD.'s holdings in Boston Scientific were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BSX. Norges Bank purchased a new position in shares of Boston Scientific in the 4th quarter worth $1,762,522,000. Capital World Investors boosted its stake in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Boston Scientific by 11,720.3% in the 1st 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 during the last quarter. Finally, Axiom Investors LLC DE lifted its position in 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 purchasing an additional 2,535,007 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BTIG Research reiterated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Robert W. Baird lifted their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of "Buy" and an average target price of $116.09.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president directly owned 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% 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. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

BSX stock traded down $0.33 during mid-day trading on Wednesday, reaching $103.15. The company's stock had a trading volume of 5,914,359 shares, compared to its average volume of 6,723,389. The stock has a market cap of $152.60 billion, a PE ratio of 75.28, a P/E/G ratio of 2.71 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. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53. The company's 50 day moving average is $103.41 and its two-hundred day moving average is $100.78.

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