Navalign LLC Sells 292 Shares of Boston Scientific Co. (NYSE:BSX)

Navalign LLC reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,823 shares of the medical equipment provider’s stock after selling 292 shares during the period. Navalign LLC’s holdings in Boston Scientific were worth $741,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BSX. Bruce G. Allen Investments LLC purchased a new stake in Boston Scientific in the 4th quarter worth $28,000. Sunbelt Securities Inc. bought a new stake in Boston Scientific during the 1st quarter valued at about $32,000. Motco raised its position in Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 372 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Boston Scientific in the second quarter worth about $34,000. Finally, Acadian Asset Management LLC bought a new stake in Boston Scientific during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeffrey B. Mirviss sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the transaction, the executive vice president now owns 56,588 shares of the company’s stock, valued at approximately $3,304,739.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00. Following the sale, the executive vice president now directly owns 56,588 shares in the company, valued at $3,304,739.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The disclosure for this sale can be found here. Insiders sold a total of 76,460 shares of company stock valued at $4,759,945 over the last 90 days. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

BSX stock traded down $0.12 during mid-day trading on Thursday, reaching $68.50. The company’s stock had a trading volume of 6,533,469 shares, compared to its average volume of 6,562,845. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $65.40 and its two-hundred day moving average is $58.12. The stock has a market cap of $100.69 billion, a PE ratio of 64.02, a P/E/G ratio of 2.38 and a beta of 0.78. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $68.92.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. During the same quarter in the prior year, the company posted $0.45 EPS. Equities research analysts expect that Boston Scientific Co. will post 2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup upped their target price on Boston Scientific from $65.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Raymond James lifted their price target on Boston Scientific from $67.00 to $73.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 1st. Morgan Stanley raised their price objective on Boston Scientific from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, December 4th. TD Cowen upped their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Oppenheimer lifted their price objective on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, seventeen 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.62.

Boston Scientific 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.