Boston Scientific Co. (NYSE:BSX) Holdings Reduced by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 447,196 shares of the medical equipment provider’s stock after selling 104,396 shares during the quarter. Boston Scientific accounts for approximately 4.8% of Parkman Healthcare Partners LLC’s holdings, making the stock its largest position. Parkman Healthcare Partners LLC’s holdings in Boston Scientific were worth $37,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. bought a new position in Boston Scientific in the 3rd quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific in the 3rd quarter worth $30,000. Capital Performance Advisors LLP bought a new position in Boston Scientific in the 3rd quarter worth $30,000. Finally, Andra AP fonden bought a new position in Boston Scientific in the 2nd quarter worth $29,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $90.47 on Wednesday. The company has a market capitalization of $133.34 billion, a price-to-earnings ratio of 74.77, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $86.97 and a 200 day moving average of $81.03.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data 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 17.23%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,174 shares of company stock valued at $27,323,759. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BTIG Research raised their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Mizuho raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada raised 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. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.