Oppenheimer & Co. Inc. Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Oppenheimer & Co. Inc. lowered its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 37.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,406 shares of the medical equipment provider's stock after selling 28,427 shares during the period. Oppenheimer & Co. Inc.'s holdings in Boston Scientific were worth $3,973,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors raised its position in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider's stock worth $1,096,394,000 after acquiring an additional 6,588,256 shares during the period. Marshall Wace LLP increased its stake in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors bought a new position in Boston Scientific in the 1st quarter worth $182,897,000. AustralianSuper Pty Ltd lifted its position in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock valued at $608,349,000 after purchasing an additional 1,824,405 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Mizuho lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Truist Financial increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research note on Thursday, October 31st. Finally, Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.39.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company's stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company's stock, valued at $13,639,695. The trade was a 45.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,270 shares of company stock valued at $26,196,718. Company insiders own 0.50% of the company's stock.

Boston Scientific Trading Down 0.7 %

BSX stock traded down $0.60 during midday trading on Friday, reaching $86.99. 10,230,145 shares of the company traded hands, compared to its average volume of 6,083,564. The firm has a market capitalization of $128.21 billion, a price-to-earnings ratio of 71.88, a P/E/G ratio of 2.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The business has a 50 day moving average of $85.26 and a 200-day moving average of $79.49. Boston Scientific Co. has a 52-week low of $53.56 and a 52-week high of $89.30.

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

Boston Scientific 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.