Jacobi Capital Management LLC Has $205,000 Holdings in Boston Scientific Co. (NYSE:BSX)

Jacobi Capital Management LLC cut its holdings in Boston Scientific Co. (NYSE:BSX) by 19.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the medical equipment provider’s stock after selling 744 shares during the quarter. Jacobi Capital Management LLC’s holdings in Boston Scientific were worth $205,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BSX. Eagle Bay Advisors LLC boosted its stake in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. First Foundation Advisors acquired a new position in shares of Boston Scientific in the first quarter worth approximately $25,000. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the first quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific in the first quarter worth approximately $31,000. Finally, Sachetta LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth approximately $32,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the transaction, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,259 shares of company stock valued at $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.9 %

Shares of NYSE:BSX traded up $0.70 during mid-day trading on Monday, hitting $78.26. 6,469,690 shares of the company traded hands, compared to its average volume of 6,182,537. The stock has a market cap of $114.82 billion, a P/E ratio of 65.18, a P/E/G ratio of 2.67 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $78.98. The stock has a 50-day moving average price of $76.21 and a two-hundred day moving average price of $69.84.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. On average, equities research analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Analyst Ratings Changes

BSX has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price objective on the stock. Royal Bank of Canada lifted their price objective on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. TD Cowen lifted their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Barclays lifted their target price on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $82.29.

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.