Boston Scientific Co. (NYSE:BSX) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 64.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,594 shares of the medical equipment provider's stock after selling 156,281 shares during the quarter. Los Angeles Capital Management LLC's holdings in Boston Scientific were worth $7,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CRA Financial Services LLC boosted its holdings in Boston Scientific by 4.3% during the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider's stock valued at $238,000 after acquiring an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider's stock valued at $115,000 after purchasing an additional 119 shares during the period. CVA Family Office LLC grew its holdings in shares of Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider's stock valued at $147,000 after purchasing an additional 131 shares in the last quarter. Jacobsen Capital Management raised its stake in shares of Boston Scientific by 4.9% in the third quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider's stock valued at $236,000 after acquiring an additional 133 shares in the last quarter. Finally, S.A. Mason LLC boosted its stake in shares of Boston Scientific by 6.1% in the 3rd quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider's stock valued at $196,000 after buying an additional 135 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares of the company's stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company's stock, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

Shares of BSX traded down $0.02 during mid-day trading on Tuesday, hitting $88.46. The company's stock had a trading volume of 2,592,724 shares, compared to its average volume of 6,066,794. The firm has a 50-day simple moving average of $84.74 and a 200 day simple moving average of $79.15. Boston Scientific Co. has a 1-year low of $52.99 and a 1-year high of $88.94. The firm has a market capitalization of $130.38 billion, a P/E ratio of 73.12, a P/E/G ratio of 2.60 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last released 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. 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 quarter last year, the company earned $0.50 earnings per share. Boston Scientific's quarterly revenue was up 19.3% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BSX shares. Barclays increased their target price on Boston Scientific from $78.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Citigroup upped their price target on Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a "hold" rating in a research note on Thursday, July 25th. Finally, TD Cowen upped their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.