Boston Scientific Co. (NYSE:BSX) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.9% during the 3rd quarter, Holdings Channel reports. The fund owned 55,565 shares of the medical equipment provider’s stock after selling 495 shares during the quarter. Boston Scientific makes up about 1.7% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 14th largest position. Legacy Wealth Management LLC MS’s holdings in Boston Scientific were worth $4,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of BSX. State Street Corp increased its holdings in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares in the last quarter. Geode Capital Management LLC grew its stake in Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares during the period. Legal & General Group Plc increased its holdings in Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after acquiring an additional 360,793 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.3 %

NYSE BSX traded down $0.31 on Friday, reaching $90.11. The stock had a trading volume of 524,039 shares, compared to its average volume of 5,958,986. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of $87.87 and a two-hundred day moving average price of $81.67. Boston Scientific Co. has a 12-month low of $54.95 and a 12-month high of $91.93. The firm has a market capitalization of $132.81 billion, a price-to-earnings ratio of 74.73, a P/E/G ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. TD Cowen lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.43.

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.