Los Angeles Capital Management LLC Sells 156,281 Shares of Boston Scientific Co. (NYSE:BSX)

Los Angeles Capital Management LLC reduced its stake in Boston Scientific Co. (NYSE:BSX) by 64.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,594 shares of the medical equipment provider’s stock after selling 156,281 shares during the period. Los Angeles Capital Management LLC’s holdings in Boston Scientific were worth $7,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific in the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in Boston Scientific during the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the 3rd quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in shares of Boston Scientific in the 3rd quarter worth about $30,000. Finally, First Foundation Advisors bought a new position in shares of Boston Scientific in the 1st quarter worth about $25,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America upped their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised 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. JPMorgan Chase & Co. boosted their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Citigroup raised their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $88.48 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $52.99 and a 12-month high of $88.94. The firm has a market capitalization of $130.40 billion, a price-to-earnings ratio of 73.12, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. The firm has a 50 day moving average of $84.61 and a 200 day moving average of $79.05.

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 the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the prior year, the business posted $0.50 EPS. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. On average, research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 over the last 90 days. 0.50% of the stock is currently 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.