Alpha DNA Investment Management LLC Sells 281 Shares of Boston Scientific Co. (NYSE:BSX)

Alpha DNA Investment Management LLC cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,323 shares of the medical equipment provider’s stock after selling 281 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Boston Scientific were worth $865,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CRA Financial Services LLC increased its stake in shares of Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 119 shares during the period. Adero Partners LLC increased its stake in shares of Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after purchasing an additional 127 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 129 shares during the last quarter. Finally, CVA Family Office LLC boosted its position in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

NYSE BSX opened at $90.00 on Friday. The company has a 50-day moving average price of $85.99 and a 200-day moving average price of $80.16. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $132.64 billion, a P/E ratio of 74.38, a PEG ratio of 2.69 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent research reports. BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Truist Financial lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Bank of America raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,147 shares of company stock valued at $26,643,598. 0.50% of the stock is owned by company insiders.

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.