Navalign LLC Reduces Position in Boston Scientific Co. (NYSE:BSX)

Navalign LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,449 shares of the medical equipment provider’s stock after selling 374 shares during the period. Navalign LLC’s holdings in Boston Scientific were worth $853,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BSX. Northwest Investment Counselors LLC purchased a new position in Boston Scientific in the first quarter worth about $31,000. Bruce G. Allen Investments LLC purchased a new position in Boston Scientific in the fourth quarter worth about $28,000. Frazier Financial Advisors LLC purchased a new position in Boston Scientific in the fourth quarter worth about $32,000. Sachetta LLC purchased a new position in Boston Scientific in the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp boosted its position in Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,627 shares of company stock worth $5,937,353. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

NYSE:BSX traded down $1.00 during trading hours on Monday, reaching $76.71. The stock had a trading volume of 5,586,181 shares, compared to its average volume of 6,324,077. The stock has a market capitalization of $112.54 billion, a PE ratio of 64.46, a PEG ratio of 2.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The company has a 50 day moving average price of $74.09 and a two-hundred day moving average price of $67.07. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $77.99.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BSX shares. JPMorgan Chase & Co. raised their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective on the stock. Mizuho raised their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada raised their price objective on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $76.70.

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.