Boston Scientific Co. (NYSE:BSX) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 10.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,056 shares of the medical equipment provider’s stock after selling 568 shares during the quarter. Martingale Asset Management L P’s holdings in Boston Scientific were worth $424,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in shares of Boston Scientific by 126.7% during the first quarter. Cetera Advisors LLC now owns 36,577 shares of the medical equipment provider’s stock worth $2,505,000 after purchasing an additional 20,439 shares in the last quarter. Mather Group LLC. boosted its stake in shares of Boston Scientific by 20.1% in the second quarter. Mather Group LLC. now owns 7,654 shares of the medical equipment provider’s stock worth $589,000 after acquiring an additional 1,283 shares during the last quarter. CWM LLC raised its position in shares of Boston Scientific by 10.2% in the second quarter. CWM LLC now owns 32,717 shares of the medical equipment provider’s stock valued at $2,520,000 after buying an additional 3,020 shares during the last quarter. Csenge Advisory Group raised its holdings in Boston Scientific by 7.7% in the 2nd quarter. Csenge Advisory Group now owns 3,872 shares of the medical equipment provider’s stock valued at $298,000 after acquiring an additional 278 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Boston Scientific by 0.3% during the second quarter. Salem Investment Counselors Inc. now owns 211,879 shares of the medical equipment provider’s stock worth $16,317,000 after buying an additional 661 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSX. Sanford C. Bernstein lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI increased their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. BTIG Research lifted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Insider Activity

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,174 shares of company stock valued at $27,323,759. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $90.47 on Wednesday. The business has a 50 day simple moving average of $86.97 and a 200-day simple moving average of $81.03. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. 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. 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 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 company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

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.