Focus Financial Network Inc. Sells 2,078 Shares of Boston Scientific Co. (NYSE:BSX)

Focus Financial Network Inc. reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,043 shares of the medical equipment provider’s stock after selling 2,078 shares during the quarter. Focus Financial Network Inc.’s holdings in Boston Scientific were worth $1,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BSX. TFC Financial Management Inc. boosted its stake in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. bought a new position in Boston Scientific in the 4th quarter valued at approximately $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.0%

Shares of Boston Scientific stock opened at $99.38 on Thursday. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a market cap of $147.03 billion, a PE ratio of 79.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm has a fifty day moving average price of $100.70 and a 200 day moving average price of $98.55.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. Boston Scientific’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial upped their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Robert W. Baird increased their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Royal Bank of Canada increased their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $116.00.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

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.