Golden State Equity Partners Sells 1,079 Shares of Boston Scientific Corporation (NYSE:BSX)

Golden State Equity Partners lowered its position in Boston Scientific Corporation (NYSE:BSX) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,789 shares of the medical equipment provider’s stock after selling 1,079 shares during the period. Golden State Equity Partners’ holdings in Boston Scientific were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSX. Colonial Trust Co SC lifted its stake in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific in the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. bought a new position in Boston Scientific during the 4th quarter valued at approximately $31,000. Finally, Fairway Wealth LLC bought a new position in Boston Scientific during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $104.31 on Thursday. The stock’s 50-day simple moving average is $102.32 and its 200-day simple moving average is $99.33. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $154.32 billion, a price-to-earnings ratio of 76.14, a PEG ratio of 2.69 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. As a group, analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on BSX. Leerink Partnrs raised Boston Scientific to a “strong-buy” rating in a research report on Monday, June 16th. Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Robert W. Baird lifted their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Evercore ISI lifted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $116.09.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 over the last ninety days. Corporate 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.