Simplicity Wealth LLC Sells 21,884 Shares of Boston Scientific Corporation $BSX

Simplicity Wealth LLC lessened its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 54.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,330 shares of the medical equipment provider’s stock after selling 21,884 shares during the period. Simplicity Wealth LLC’s holdings in Boston Scientific were worth $1,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Boston Scientific by 1.1% during the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock valued at $7,002,258,000 after acquiring an additional 713,379 shares during the period. Synergy Asset Management LLC lifted its position in shares of Boston Scientific by 3,493.0% during the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after purchasing an additional 479,593 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its stake in shares of Boston Scientific by 39.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after purchasing an additional 14,700 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Boston Scientific by 75.3% in the second quarter. Bank Pictet & Cie Europe AG now owns 164,654 shares of the medical equipment provider’s stock worth $17,685,000 after purchasing an additional 70,753 shares during the last quarter. Finally, Channel Wealth LLC grew its holdings in shares of Boston Scientific by 70.8% in the third quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock worth $2,790,000 after purchasing an additional 11,847 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BSX. TD Cowen reiterated a “buy” rating on shares of Boston Scientific in a report on Thursday, December 11th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Boston Scientific in a report on Wednesday. Oppenheimer dropped their price objective on Boston Scientific from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, January 16th. Finally, Royal Bank Of Canada raised their price objective on Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.89.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $91.32 on Friday. The firm has a 50 day moving average of $95.90 and a 200 day moving average of $99.95. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $135.38 billion, a price-to-earnings ratio of 48.83, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67. Boston Scientific Corporation has a 52 week low of $85.98 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The business’s revenue was up 20.3% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. On average, sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total value of $4,973,500.00. Following the sale, the executive vice president directly owned 178,342 shares in the company, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the transaction, the executive vice president owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 93,095 shares of company stock valued at $9,305,450 over the last quarter. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.