Shell Asset Management Co. Has $448,000 Stake in Boston Scientific Co. (NYSE:BSX)

Shell Asset Management Co. reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 44.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,544 shares of the medical equipment provider’s stock after selling 5,171 shares during the quarter. Shell Asset Management Co.’s holdings in Boston Scientific were worth $448,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. First Foundation Advisors acquired a new position in shares of Boston Scientific in the first quarter valued at $25,000. Eagle Bay Advisors LLC grew its stake in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. RiverPark Advisors LLC bought a new position in Boston Scientific in the 1st quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new position in Boston Scientific in the 1st quarter valued at about $31,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Boston Scientific during the first quarter worth approximately $32,000. Institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,257,470.50. Following the completion of the sale, 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 ninety days, insiders sold 62,441 shares of company stock worth $4,624,453. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent research reports. BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Argus increased their price objective on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Raymond James boosted their target price on shares of Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research report on Thursday. Truist Financial raised their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Needham & Company LLC boosted their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Two research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.76.

Boston Scientific Stock Performance

Boston Scientific stock opened at $74.95 on Friday. The stock has a market cap of $109.96 billion, a PE ratio of 62.98, a P/E/G ratio of 2.47 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 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 $79.43. The business’s 50-day moving average price is $76.49 and its two-hundred day moving average price is $70.32.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. As a group, analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.