RMR Wealth Builders Sells 208 Shares of Boston Scientific Co. (NYSE:BSX)

RMR Wealth Builders lessened its stake in Boston Scientific Co. (NYSE:BSX) by 2.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,631 shares of the medical equipment provider’s stock after selling 208 shares during the quarter. RMR Wealth Builders’ holdings in Boston Scientific were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the period. Wellington Management Group LLP raised its holdings in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. Geode Capital Management LLC raised its holdings in Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the period. Capital World Investors raised its holdings in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock valued at $1,992,994,000 after acquiring an additional 554,388 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BSX shares. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. BTIG Research reissued a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Evercore ISI boosted their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Robert W. Baird boosted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $116.00.

Boston Scientific Stock Down 1.0%

Shares of NYSE:BSX opened at $98.43 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $145.62 billion, a PE ratio of 78.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm has a fifty day moving average of $100.84 and a 200 day moving average of $98.62. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17.

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

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of 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 represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 over the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Company 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.