United Services Automobile Association Sells 7,295 Shares of Boston Scientific Co. (NYSE:BSX)

United Services Automobile Association lessened its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 17.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,626 shares of the medical equipment provider's stock after selling 7,295 shares during the period. United Services Automobile Association's holdings in Boston Scientific were worth $2,818,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider's stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Legal & General Group Plc raised its position in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider's stock valued at $1,072,195,000 after purchasing an additional 360,793 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Boston Scientific by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider's stock valued at $671,940,000 after buying an additional 64,720 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after buying an additional 1,824,405 shares during the period. Institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Down 0.5 %

Shares of NYSE BSX traded down $0.46 during midday trading on Friday, reaching $90.07. The company had a trading volume of 3,302,016 shares, compared to its average volume of 4,982,464. The firm's fifty day moving average price is $87.40 and its 200-day moving average price is $81.34. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a one year low of $54.52 and a one year high of $91.93. The stock has a market cap of $132.75 billion, a PE ratio of 74.44, a price-to-earnings-growth ratio of 2.68 and a beta of 0.80.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business's revenue was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity

In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm's stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 328,157 shares of company stock valued at $27,957,676. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Canaccord Genuity Group raised their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, October 21st. StockNews.com downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research note on Monday, November 4th. Mizuho upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Truist Financial upped their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.39.

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.