Baron Wealth Management LLC Sells 362 Shares of Boston Scientific Co. (NYSE:BSX)

Baron Wealth Management LLC lessened its stake in Boston Scientific Co. (NYSE:BSX) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,740 shares of the medical equipment provider’s stock after selling 362 shares during the period. Baron Wealth Management LLC’s holdings in Boston Scientific were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of BSX. Capital World Investors increased its holdings in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the period. Marshall Wace LLP boosted its position in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $182,897,000. AustralianSuper Pty Ltd lifted its position in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSX. Royal Bank of Canada upped their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Sanford C. Bernstein increased 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. Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company raised their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Performance

Shares of BSX stock opened at $90.45 on Tuesday. The firm has a market capitalization of $133.31 billion, a price-to-earnings ratio of 74.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The business has a fifty day moving average of $85.42 and a 200 day moving average of $79.72. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

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.