MGB Wealth Management LLC Has $416,000 Holdings in Boston Scientific Co. (NYSE:BSX)

MGB Wealth Management LLC cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 11.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,081 shares of the medical equipment provider’s stock after selling 750 shares during the period. MGB Wealth Management LLC’s holdings in Boston Scientific were worth $416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $5,116,000. Sierra Summit Advisors LLC acquired a new position in Boston Scientific during the fourth quarter valued at approximately $8,038,000. TD Asset Management Inc raised its position in Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares in the last quarter. HealthInvest Partners AB acquired a new position in Boston Scientific during the fourth quarter valued at approximately $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after purchasing an additional 73,219 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,259 shares of company stock worth $5,344,014. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.6 %

BSX traded up $0.49 during trading on Friday, reaching $77.38. 1,336,779 shares of the stock traded hands, compared to its average volume of 6,138,166. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $113.52 billion, a PE ratio of 64.61, a P/E/G ratio of 2.65 and a beta of 0.78. The stock’s 50-day moving average is $75.71 and its 200 day moving average is $68.80. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $77.99.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. Equities analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays boosted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Raymond James boosted their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $78.29.

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.