Mirae Asset Global Investments Co. Ltd. Reduces Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 166,727 shares of the medical equipment provider’s stock after selling 14,324 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Boston Scientific were worth $13,897,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Boston Scientific by 225.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock valued at $7,237,000 after buying an additional 73,219 shares during the period. BDF Gestion purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $3,570,000. LRI Investments LLC purchased a new stake in shares of Boston Scientific during the 1st quarter valued at about $139,000. Cetera Advisor Networks LLC raised its holdings in shares of Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after buying an additional 21,252 shares during the period. Finally, Brookstone Capital Management raised its holdings in shares of 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 buying an additional 55,645 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on 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 in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock worth $26,714,298 in the last three months. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Down 0.4 %

BSX opened at $84.73 on Friday. Boston Scientific Co. has a one year low of $49.15 and a one year high of $88.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The stock’s fifty day moving average is $83.47 and its 200-day moving average is $77.80. The company has a market capitalization of $124.31 billion, a PE ratio of 71.20, a P/E/G ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. On average, equities analysts predict that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent analyst reports. TD Cowen raised their price objective on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup raised their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI raised their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company raised their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

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.