Moors & Cabot Inc. Lowers Stock Position in Boston Scientific Co. (NYSE:BSX)

Moors & Cabot Inc. cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 8.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,512 shares of the medical equipment provider’s stock after selling 2,757 shares during the period. Moors & Cabot Inc.’s holdings in Boston Scientific were worth $1,357,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Investors Research Corp raised its position in Boston Scientific by 333.3% during the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 500 shares during the period. NEXT Financial Group Inc raised its position in Boston Scientific by 222.3% during the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 538 shares during the period. Essex Savings Bank acquired a new position in Boston Scientific during the first quarter worth $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Boston Scientific by 60.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 300 shares during the period. Finally, Hanson McClain Inc. raised its position in Boston Scientific by 107.6% during the first quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 468 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific stock traded up $0.03 during midday trading on Wednesday, hitting $42.89. 49,611 shares of the stock were exchanged, compared to its average volume of 5,784,509. Boston Scientific Co. has a fifty-two week low of $31.56 and a fifty-two week high of $43.66. The firm has a market cap of $59.85 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. The stock’s 50-day moving average price is $42.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.12.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.74%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned $0.41 earnings per share. Boston Scientific’s revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

BSX has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $44.00 to $46.00 and gave the stock an “in-line” rating in a research report on Thursday, June 27th. Needham & Company LLC set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their target price on shares of National Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a research report on Thursday, June 27th. Evercore ISI assumed coverage on shares of Palomar in a research report on Monday, May 13th. They issued an “outperform” rating for the company. Finally, Raymond James increased their target price on shares of Spotify Technology from $172.00 to $180.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $44.66.

In other Boston Scientific news, SVP Maulik Nanavaty sold 3,038 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total transaction of $111,616.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 20,673 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $43.41, for a total transaction of $897,414.93. Following the transaction, the executive vice president now directly owns 226,835 shares of the company’s stock, valued at approximately $9,846,907.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,327 shares of company stock valued at $2,253,566. 0.66% of the stock is owned by company insiders.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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