Empower Advisory Group LLC Reduces Stake in Boston Scientific Co. (NYSE:BSX)

Empower Advisory Group LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,726 shares of the medical equipment provider’s stock after selling 395 shares during the quarter. Empower Advisory Group LLC’s holdings in Boston Scientific were worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Aptus Capital Advisors LLC boosted its stake in shares of Boston Scientific by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 9,969 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 520 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Boston Scientific during the 3rd quarter worth approximately $567,000. Prime Capital Investment Advisors LLC raised its position in shares of Boston Scientific by 19.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 10,056 shares of the medical equipment provider’s stock worth $843,000 after acquiring an additional 1,638 shares in the last quarter. Savvy Advisors Inc. purchased a new position in shares of Boston Scientific in the 3rd quarter valued at approximately $270,000. Finally, Rakuten Securities Inc. boosted its position in shares of Boston Scientific by 648.6% during the third quarter. Rakuten Securities Inc. now owns 831 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 720 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Thursday, October 31st. Sanford C. Bernstein upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Stock Down 1.3 %

Shares of Boston Scientific stock opened at $87.59 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $53.56 and a twelve month high of $89.30. The company has a market cap of $129.09 billion, a price-to-earnings ratio of 72.39, a price-to-earnings-growth ratio of 2.61 and a beta of 0.79. The company’s 50 day moving average is $85.03 and its 200 day moving average is $79.33.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. Research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock worth $26,196,718 in the last three months. 0.50% of the stock is currently owned by company insiders.

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.