JNBA Financial Advisors Trims Holdings in Boston Scientific Co. (NYSE:BSX)

JNBA Financial Advisors cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,863 shares of the medical equipment provider’s stock after selling 435 shares during the period. JNBA Financial Advisors’ holdings in Boston Scientific were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific during the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific in the third quarter valued at $30,000. First Foundation Advisors acquired a new position in shares of Boston Scientific in the first quarter worth about $25,000. Finally, Eagle Bay Advisors LLC boosted its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.0 %

Shares of NYSE:BSX opened at $86.42 on Thursday. Boston Scientific Co. has a 52-week low of $50.84 and a 52-week high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $84.35 and a two-hundred day moving average of $78.74. The stock has a market cap of $127.26 billion, a P/E ratio of 71.42, a PEG ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BSX shares. Barclays lifted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Raymond James upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Truist Financial upped their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, TD Cowen increased their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.