Harbor Capital Advisors Inc. Sells 25,443 Shares of Boston Scientific Co. (NYSE:BSX)

Harbor Capital Advisors Inc. trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 54.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,580 shares of the medical equipment provider’s stock after selling 25,443 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Boston Scientific were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covenant Asset Management LLC bought a new position in shares of Boston Scientific during the 4th quarter worth about $3,405,000. Bank Pictet & Cie Europe AG increased its stake in Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after acquiring an additional 21,173 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Boston Scientific by 8.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider’s stock valued at $4,223,000 after acquiring an additional 3,683 shares during the period. Entropy Technologies LP acquired a new position in Boston Scientific in the 4th quarter valued at approximately $214,000. Finally, Portfolio Design Labs LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $975,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. The trade was 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 over the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $99.38 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $147.03 billion, a P/E ratio of 79.50, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The stock has a 50 day moving average of $100.70 and a 200-day moving average of $98.55.

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

Analyst Upgrades and Downgrades

BSX has been the topic of several analyst reports. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. Barclays lifted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus target price of $116.00.

About Boston Scientific

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.