Heritage Investors Management Corp Has $16.50 Million Stake in Boston Scientific Co. (NYSE:BSX)

Heritage Investors Management Corp lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 3.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 196,864 shares of the medical equipment provider's stock after selling 7,684 shares during the quarter. Heritage Investors Management Corp's holdings in Boston Scientific were worth $16,497,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Eagle Bay Advisors LLC increased its holdings in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 309 shares during the period. First Foundation Advisors acquired a new stake in Boston Scientific during the 1st quarter worth approximately $25,000. Triad Wealth Partners LLC acquired a new stake in Boston Scientific in the second quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at approximately $28,000. Finally, Andra AP fonden purchased a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Up 1.0 %

BSX stock traded up $0.82 during mid-day trading on Tuesday, hitting $85.54. The stock had a trading volume of 5,321,519 shares, compared to its average volume of 6,101,328. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.79. The company has a fifty day moving average of $84.21 and a 200 day moving average of $78.68. The stock has a market capitalization of $125.97 billion, a price-to-earnings ratio of 70.69, a PEG ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the firm posted $0.50 EPS. The business's revenue was up 19.3% compared to the same quarter last year. On average, equities analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction 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 approximately $133,046,484.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the firm's stock in a transaction that occurred 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 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock valued at $26,196,718. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Boston Scientific from $95.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Raymond James raised their target price on Boston Scientific from $91.00 to $94.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 4th. StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a research note on Monday. Stifel Nicolaus raised their target price on Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Finally, Robert W. Baird raised their target price on Boston Scientific from $90.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus 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.