Victory Capital Management Inc. Has $44.21 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Victory Capital Management Inc. cut its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 527,560 shares of the medical equipment provider's stock after selling 15,554 shares during the period. Victory Capital Management Inc.'s holdings in Boston Scientific were worth $44,210,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. BDF Gestion purchased a new stake in Boston Scientific during the second quarter valued at about $3,570,000. LRI Investments LLC purchased a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $139,000. Cetera Advisor Networks LLC boosted its stake in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider's stock worth $13,796,000 after purchasing an additional 21,252 shares during the period. Brookstone Capital Management raised its stake in Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock valued at $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, HWG Holdings LP purchased a new stake in shares of Boston Scientific in the second quarter valued at $482,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BSX. Morgan Stanley upped their price target on Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a "hold" rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, August 22nd. Finally, Robert W. Baird lifted their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Four research 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 stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.39.

Boston Scientific Price Performance

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

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 (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 business had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. During the same period in the prior year, the firm posted $0.50 EPS. Boston Scientific's quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific Co. will post 2.46 EPS for the current year.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company's stock, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business'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 completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock worth $26,196,718 in the last quarter. 0.50% of the stock is owned by corporate insiders.

About Boston Scientific

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.