Boston Scientific Co. (NYSE:BSX) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 37.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,406 shares of the medical equipment provider’s stock after selling 28,427 shares during the period. Oppenheimer & Co. Inc.’s holdings in Boston Scientific were worth $3,973,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BSX. BDF Gestion acquired a new position in Boston Scientific in the 2nd quarter valued at $3,570,000. LRI Investments LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at about $139,000. Cetera Advisor Networks LLC raised its position in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares during the last quarter. Brookstone Capital Management lifted its stake in shares of Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after buying an additional 55,645 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in Boston Scientific during the 2nd quarter valued at about $482,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX opened at $86.98 on Friday. The stock’s 50-day moving average price is $85.15 and its 200 day moving average price is $79.39. Boston Scientific Co. has a 12-month low of $53.56 and a 12-month high of $89.30. The firm has a market cap of $128.19 billion, a price-to-earnings ratio of 71.88, a PEG ratio of 2.61 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

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

Analyst Ratings Changes

A number of research firms have weighed in on BSX. Barclays raised their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. TD Cowen boosted their price objective on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Sanford C. Bernstein upped their target price on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Morgan Stanley upped their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. 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 company currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Buying and Selling at Boston Scientific

In related 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 value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.