Boston Scientific Co. (NYSE:BSX) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC trimmed its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 65.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,200 shares of the medical equipment provider's stock after selling 26,800 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Boston Scientific were worth $1,190,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Mizuho raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Thursday, October 31st. Raymond James lifted their target price on Boston Scientific from $91.00 to $94.00 and gave the company a "strong-buy" rating in a research report on Wednesday, September 4th. Finally, Bank of America lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $93.39.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the firm's stock in a transaction dated 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 directly owns 1,572,096 shares of the company's stock, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was 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 approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock valued at $26,196,718 over the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

NYSE:BSX traded down $1.18 during trading hours on Thursday, hitting $87.59. The company's stock had a trading volume of 5,002,354 shares, compared to its average volume of 6,064,790. The business's 50-day moving average is $85.03 and its two-hundred day moving average is $79.33. The company has a market capitalization of $129.09 billion, a PE ratio of 73.36, a PEG 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. 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 announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business's revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.